Barkerville Gold {TSX.V: BGM}

The Globe and Mail report that Canaccord Genuity analyst Kevin MacKenzie has cut his price target for Barkerville Gold from CAD $1.50 to CAD $1.25 (rounded), and kept his assessment as a “speculative buy”.

This reflects his analysis of recent results and the company’s cash position.

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Globe says Barkerville Gold kept at “speculative buy”

2018-07-09 04:45 ET – In the News

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The Globe and Mail reports in its Saturday, July 7, edition that Canaccord Genuity analyst Kevin MacKenzie cut his price target on Barkerville Gold Mines to reflect recent results.

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The Globe’s Gillian Livingston writes in the Eye On Equities column that Mr. MacKenzie says: “We have updated our model of Barkerville Gold to reflect the results of the recently released Cariboo Gold technical report, current management guidance, and the company’s current financial position/market valuation. We lower our target to $1.25 from $1.50 to reflect the changes.” Mr. MacKenzie continues to rate the shares “speculative buy.” He says in a note: “We have updated our valuation of Barkerville to reflect: (1) the company’s Q1/18 financial position, (2) CG’s Q2/18 updated commodity/FX [foreign exchange] pricing assumptions, and (3) the results of the Cariboo Gold resource update and current management guidance. Through these adjustments, we derive an updated NAV [net asset value] of $1.23 per share (previously $1.47/sh) and a rounded target price of $1.25/sh (previously $1.50/sh). Our revised valuation is primarily the result of additional equity dilution pertaining to Barkerville’s current market valuation.”

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