CIBC Upgrades Barrick Gold (ABX) to Sector Outperform

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Go back to CIBC Upgrades Barrick Gold (ABX) to Sector Outperform

Goldman Sachs Raises Gold Forecast by 10% and Adds Barrick (ABX) to Conviction Buy List

June 27, 2016 7:16 AM EDT

(Updated - June 27, 2016 8:30 AM EDT)

Following the UK's vote to leave the EU, Goldman Sachs lifted its view of Precious Metals to Attractive from Neutral and boosted its gold forecast by an average of 10% for 2017 and 2018. The bank's gold price deck for '16/17/18 was raised to $1,260/$1,261/ $1,250 (from $1,202/$1,150/$1,150).

Goldman Sachs also added Barrick Gold (NYSE: ABX) to its Conviction Buy with a price target of $27.00 (prior $23.00), implying upside of 32%. Newmont Mining's (NYSE:... More