RBC Capital analyst Josh Wolfson raised the firm’s price target on Barrick Mining (B) to $38 from $34 and keeps an Outperform rating on the shares. Barrick has outlined projected operating improvements and featured an in-depth review of its recent impressive Fourmile update, the analyst tells investors in a research note. Although Fourmile is longer-dated, the firm expects its momentum and further potential growth could present a key source of implied upside for Barrick shares to continue to close its valuation gap.
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