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Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,164,669,608
Close 2014-08-08 C$ 20.51
Market Cap C$ 23,887,373,660
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Globe says Goldman very keen on Barrick Gold

2014-08-11 06:35 ET - In the News

The Globe and Mail reports in its Saturday, Aug. 9, edition that Barrick Gold ($20.51 (Canadian)) is Goldman Sachs analyst Andrew Quail's favourite investing idea for the entire United States equities market. The Globe's Darcy Keith and Tim Shufelt write in the Eye On Equities column that Mr. Quail already rated Barrick "buy." On Friday, however, Mr. Quail boosted his share target to $22 (U.S.) from $21 (U.S.). The action comes just one day after RBC raised its own price target on Barrick, to $25 (U.S.) from $23 (U.S.), saying the producer is reaching "a turning point" in its operations. Mr. Quail likes Barrick's improving operational profile. Mr. Quail says Barrick should turn free-cash-flow positive beginning in the third quarter. Mr. Quail says, "We expect Barrick to continue divestments in 2014 and beyond which, combined with strong FCF generation, should lower the company's net debt and improve its financial flexibility." He expects growth in copper production. Mr. Quail says, "An ahead-of-schedule restart at Lumwana and commissioning of the Jabal Sayid project should lead to higher copper production." Goldman said buy Barrick in the Eye column on April 23, when it was worth $19.37 (Canadian).

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