BMO Capital Markets on Tuesday reiterated its market-perform rating on the shares of Barrick Mining (ABX.TO, B) and its C$30.00 price target after the company's Loulo-Gounkoto complex in Mali was placed in a six-month receivership.
"Barrick confirmed media reports that Loulo-Gounkoto has been placed under temporary provisional administration at
the request of the Malian government. It notes that arbitration before the International Centre for Settlement of Investment Disputes is underway and the company has submitted a request for provisional measures to prevent further escalation and safeguard its rights. Barrick also remains committed to engaging with the Government of Mali in parallel in the hopes of reaching a constructive, mutually acceptable solution. However, it's not clear to us exactly what the current level of dialogue is, and we note that several Barrick employees remain imprisoned," analyst Matthew Murphy wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 29.01, Change: -0.09, Percent Change: -0.31
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