BofA Turns Bullish on Kinross Gold, Sees Outlook Risk for Barrick -- Market Talk

Dow Jones
2025/01/27

1017 ET - Ahead of 4Q results for North America's precious metals companies, BofA Securities lifts its call on Kinross Gold to buy from underperform and drops Barrick to neutral from buy. Concerns about Kinross's shorter mine life, ability to maintain annual production and unit costs are being addressed. And BofA sees the potential for the miner to raise capital returns in 2025 via a share buyback. Its target rises to $12.75 from $9.25. With Barrick, BofA sees increasing risk around guidance, particularly related to Mali operations that have been suspended and a challenged ramp-up of the Pueblo Viejo mine in Dominican Republic. Its target falls to $18 from $21. (robb.stewart@wsj.com)

(END) Dow Jones Newswires

January 27, 2025 10:17 ET (15:17 GMT)

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