Street View: Barrick Mining's Nevada gold find deemed favourable
Gold miner Barrick Mining ABX.TO hosted a tour at the Nevada Gold Mines for investors and analysts to understand the Fourmile economic parameters
Shares of Barrick Mining up ~5% at C$47.7
BROKERAGES BULLISH ON FOURMILE MINE
Jefferies ("buy", PT: $38) says Barrick could look like a very different company once Fourmile comes online, one deserving of a much higher multiple
CIBC Capital Markets ("outperform", PT: $38) says Fourmile solidifies Barrick's production base in Nevada and extends mine life to 2050
Stifel ("buy", PT: C$46) believes Barrick’s Fourmile orebody has the hallmarks of a potential Tier One asset, derived from its high grades
BMO ("market", PT: C$41) says, "The biggest gold district on the planet had been brought down to earth by cost inflation and an investment cycle, but during our visit to NGM there were definite signs it is turning the corner"
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