The Globe and Mail reports in its Tuesday, April 15, edition that Scotia Capital analyst Tanya Jakusconek predicts the focus of first quarter earnings season for North American gold companies will be squarely on commentary around the impact of the tariff war. The Globe's David Leeder writes that Ms. Jakusconek says in a note: "We are expecting flat margins quarter-over-quarter given Q1/25 is a weaker operating quarter, with stronger operating performance expected in 2H/25. This should result in further margin expansion later this year. Commentary on potential tariff impacts will be a focus as companies review supply chain/purchases and overall impact to costs. Heading into reporting, we prefer to be positioned in AEM, KGC (margin expansion) and WPM. NEM and GOLD are expected to have weak Q1/25, with market focus on delivering on operating targets. Should both deliver on targets and announce decent share buy backs, there maybe the potential for a catch up trade since they have underperformed peers." Ms. Jakusconek continues to rate Barrick Gold "sector perform." She gave her share target a $2 (U.S.) boost to $22 (U.S.). Analysts on average target the shares at $23.19 (U.S.).