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CIBC Reaffirms Barrick Mining's Outperformer Rating, US$63.00 Price Target, Ahead of Q1 Results

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-- CIBC Capital Markets on Wednesday maintained its outperformer rating on the shares of Barrick Mining (ABX.TO, B) and its US$63.00 price target ahead of the company's first-quarter results.

CIBC expects Barrick to book adjusted earnings of US$0.82 per share in the first quarter, higher that its previous estimate of US$0.73 per share, following a read-through of Nevada Gold Mines results from Newmont's (NEM) earnings.

NGM looks to have had a strong start to the year, which will likely provide a tailwind into Barrick's first-quarter earnings that will be released May 11, CIBC said.

The recent assassination of Mali's defense minister in Mali and a development pause at the Reko Diq project in Pakistan represent headwinds for Barrick, CIBC said.

Price: $52.95, Change: $+0.37, Percent Change: +0.69%

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