Brokerages raise miner Barrick's PT on larger-than-expected Nevada gold find

Barrick Mining B.N up 3.1% at $34.05 premarket

Brokerages raise price target after miner reported assessment of its Fourmile gold project in Nevada

Barrick shares also supported by uptick in spot gold prices XAU=, which hit a record high GOL/

Jefferies and CIBC Capital Markets raise PT to $38 from $36 and $30 respectively, a 15% premium to stock's last close

"Fourmile solidifies Barrick's production base in Nevada and extends mine life to 2050" - CIBC Capital Markets

Jefferies says Fourmile is envisioned to be much larger than previously thought

"Barrick could look like a very different company once Fourmile comes online, one deserving of a much higher multiple," - Jefferies

12 of 18 brokerages rate the stock "buy" or higher, 6 "hold"; median PT is $31.98

As of last close, stock up ~113% YTD