Raymond James raised the firm’s price target on Barrick Mining (B) to $32 from $30 and keeps an Outperform rating on the shares. Barrick announced that the updated preliminary economic assessment on Fourmile pointed to the potential for Fourmile to rank among the top 10 gold producers globally, the analyst tells investors in a research note. Raymond James believes that, over time, the project’s economics could improve given the deposit’s location near current processing infrastructure, geometry, ground conditions, metallurgy and the potential for resource increases.
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