March 15, 2018 / 12:11 PM / 9 months ago

BUZZ-Deutsche Bank cuts PT for miners Barrick Gold, Pan American Silver

** Deutsche Bank cuts PT for U.S.-listed shares of Canadian miners Barrick Gold Corp to $15 from $17.50 and Pan American Silver Corp to $19 from $20

** Sees gold prices decline to $1,260/oz by 2018 end from $1,325/oz spot price, higher costs for miners as cost-cutting opportunities shrink

** After years of deleveraging and low investment in greenfield and brownfield projects, balance sheets now allow cos flexibility to differentiate strategies

** Says expansion at projects such as Turquoise Ridge could benefit ABX in mid-to-long term and development of PAAS’s Argentinian projects could be beneficial over time

** Barrick shares have fallen 31 pct in the past 12 months, while Pan American shares fell 7.8 pct (Reporting by Karan Nagarkatti)

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