RBC Capital raised the firm’s price target on Barrick Mining (B) to $40 from $38 and keeps an Outperform rating on the shares. Media reports suggest Newmont (NEM) is evaluating M&A with Barrick, and despite having indicated a low preference for M&A, Newmont could be motivated to advance discussions given the highly logical nature of a deal, Barrick’s current CEO vacancy, and growing complexity associated with Newmont’s Fourmile JV acquisition, the analyst tells investors in a research note.
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