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RBC Dominion Securities reportedly hiked its 12-month target price on Barrick by US$10, and raised its target on Goldcorp by $4

RBC Dominion Securities Inc. reportedly hiked its 12-month target price on Barrick Gold Inc. (ABX.TO) by US$10 to US$75 (U.S.), and raised its target on Goldcorp Inc. (G.TO) by $4 to $64 because the tier-one companies have lagged smaller producers. Barrick and Goldcorp are both lower today in reflecting lower gold futures.

The Globe and Mail newspaper cites a new research report in which RBC hiked its bullion price forecasts by 17% in both 2011 and 2012 and now expects prices to average US$1,400 in both years. It sees some easing in following years, but not by much, calling for an average price of US$1,300 in 2013 and US$1,200 in 2014, the report says. Gold hit an all-time high just above US$1,400 on Tuesday.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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