April 9 (Reuters) - Shares of Barrick Gold could rise 30 percent in the next year as the gold-mining company, which began restructuring three years ago, develops new projects and increases production, according to the April 10 edition of Barron‘s.
Barrick reported fourth quarter profits in February that beat estimates and at the same time, the miner raised its production outlook and its dividend, the financial newspaper said.
The Toronto-based company is expected to focus on development projects in Nevada and Lagunas Nortes in Peru, and improving free cash flow will help it reduce debt and the need to offload more non-core assets outside the United States, Barron’s said.
Gold is currently “among the most spurned and under-owned assets,” even as price of the precious medal has increased 9 percent this year, Barron’s said. (Reporting by John McCrank in New York; Editing by Sandra Maler)