UPDATE: BMO Capital Markets Downgrades Barrick Gold Corporation to Market Perform, Lowers PT

In a report published Friday, BMO Capital Markets downgraded its rating on Barrick Gold Corporation ABX from Outperform to Market Perform, and lowered its price target from $50.00 to $46.00. BMO Capital noted, “BMO Research has downgraded Barrick to Market Perform as the company has struggled to meet guidance recently, with persistent cost escalation for Pascua-Lama. Few positive catalysts are expected over the next six months or so. BMO Research prefers Goldcorp (GG-NYSE, G-TSX; US$45.37; Outperform) to Barrick for growth and value.” Barrick Gold Corporation closed on Thursday at $36.70.