UPDATE: UBS Investment Research Raises PT on Barrick Gold Following Q2 EPS Report

In a report published Friday, UBS Investment Research analyst Brian MacArthur reiterated a Neutral rating on Barrick Gold (NYSE: ABX), and raised the price target from $16.50 to $17.50.

In the report, UBS Investment Research noted, “Barrick reported a headline loss of $8.55/share, however after adjusting for $8.7B in after-tax impairment charges related to Pascua-Lama ($5.1B), goodwill ($2.3B) and other asset impairment charges ($1.3B) as well as other non-recurring items we view adjusted EPS as $0.66. Production of 1.811mozs was within guidance while all-in sustaining costs were better than expected at $919/oz.”

Barrick Gold closed on Thursday at $16.97.