BMO Capita Markets on Thursday reiterated its market-perform rating on the shares of Barrick Gold (ABX.TO, GOLD) and its C$30.00 price target ahead of the company's first-quarter results and after the sale of its stake in the Donlin gold project in Alaska.
"We adjusted down our estimate of ABX's Q1 attributable production from Nevada Gold Mines by 23koz (-6%) and increased our unit costs 11% to reflect updated Q1 results from JV partner NEM. We adjusted up our estimate of ABX's Q1 attributable Pueblo Viejo production by 22koz (+40%) again reflecting Q1 results from JV partner NEM. We expect improved results from these assets in Q2/25. We have also updated our model for the sale of Donlin and removed any Loulo-Gounkoto Q2/25 production from our model," analyst Matthew Murphy wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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