Cormark lifts Barrick PT on Fourmile optimism

Brokerage Cormark Securities raises Barrick Mining's ABX.TO price target after the gold miner reported economic assessment of its Fourmile project in Nevada

Barrick calls it "one of the century's greatest gold discoveries"

Cormark raises PT to C$45 from C$35, an upside of 10.7% to the stock's last close

Cormark estimates Fourmile net present value (NPV) of $8.15 bln at a long-term $3,000/oz gold price

Brokerage says 80% of the mineralization at the project is single refractory, helping in cheaper processing of the ores

10 of 13 brokerages rate the stock "buy" or higher, and 3 "hold"; their median PT is C$40.64 - data compiled by LSEG

Up to last close, stock up ~82% YTD