Here are the specs
I'd have to say no. For touring or distance you'll want to upgrade a bit.
Find a bike shop that LISTENS to you and tell them exactly what you want a bike to do for you. my guess is you're looking at around 1K for a decent touring bike.
I'm looking for something in that range myself and I want to check out the Salsa Casseroll, Surly Cross Check and Jamis Aurora.
Save up.