Barrick Mining price target lowered to $61 from $62 at Raymond James

Raymond James lowered the firm’s price target on Barrick Mining (B) to $61 from $62 and keeps an Outperform rating on the shares. Raymond James noted that it updated its forecasts for Q1 prices and some production adjustments. The firm told investors that given the recent escalation in security issues in Pakistan and the Middle East, Barrick has extended the review period for Reko Diq by 12 months from July to continue to assess the potential impacts and delivery strategy of the project. Raymond James added that development activity will be slowed and the reduced pace of development is likely to impact previously stated budgets and timelines.