As previously reported, BofA downgraded Barrick Gold (GOLD) to Neutral from Buy with a price target of $18, down from $21. Given the Loulo-Gounkoto mine in Mali is now shutdown following a tax/royalty disagreement and the “very challenged” ramp-up of the Pueblo Viejo mine in Dominican Republic, the firm increasingly sees risk around guidance, the analyst tells investors. The firm sees a turnaround set to unfold into 2026 for Barrick, but is cautious into Q4 results, the analyst added in an earnings preview for the precious metals group.
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