April 22, 2019 / 1:48 PM / in a year

BUZZ-Barrick Gold: New Barrick now has a lot of work on its hands - TD Securities

** TD Securities raises PT of U.S.-listed shares of gold miner Barrick Gold Corp to $16 from $15, maintains “hold” rating

** “Not only does management has to demonstrate that the merger of Barrick and Randgold can deliver on its promises, but it must also prove that substantial synergies can be found almost immediately in Nevada” - Brokerage

** TD’s current PT at $16 represents a 21% upside to Barrick Gold’s Thursday’s closing price on the NYSE

** Says co’s Q1 2019 preliminary gold production of 1.367mm ozs and sales of 1.365mm ozs was slightly better than forecast of 1.329mm ozs

** Brokerage resumes coverage of Newmont Goldcorp with “buy” rating, up from “hold” previously; raises PT to $46 from $38

** Newmont is expected to generate free cash flow, after total capex, of ~$1.6 bln in 2020 - TD Securities

** Barrick-Newmont JV received all regulatory approvals, says Barrick

** U.S.-listed shares of Barrick Gold and shares of Newmont Goldcorp have slipped 2.4% each YTD (Reporting by Shradha Singh in Bengaluru)

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