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

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In a report published Friday, BMO Capital Markets downgraded its rating on Barrick Gold Corporation (NYSE: 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.

Latest Ratings for ABX

DateFirmActionFromTo
Jun 2018Morgan StanleyDowngradesEqual-WeightUnderweight
Apr 2018Canaccord GenuityDowngradesBuyHold
Mar 2018JP MorganMaintainsNeutralNeutral

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Posted-In: BMO Capital MarketsAnalyst Color Downgrades Analyst Ratings

 

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