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Barrick Gold Corp
Symbol ABX
Shares Issued 1,164,669,608
Close 2015-02-17 C$ 14.87
Market Cap C$ 17,318,637,071
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Post/wire say Barrick investors to hear from Thornton

2015-02-18 09:12 ET - In the News

The Financial Post reports in its Wednesday edition the executive chairman's vision for Barrick is to return the company to its nimble roots. A Bloomberg dispatch to the Post, however, says questions remain on the Street about what that may mean over the long run. Will Mr. Thornton, an ex-Goldman Sachs Group banker, keep Barrick focused on gold, or diversify further into other metals such as copper, as he has hinted in the past? "I have no idea what's going on," said David Christensen at ASA Gold & Precious Metals in San Mateo, Calif. "I feel like I'm looking into a black hole." Barrick is expected to report Wednesday its first annual per-share profit in three years. To get there, Barrick has reduced production costs and the number of mines it operates. Still, it remains saddled with $13.1-billion (U.S.) in debt. Since Mr. Thornton took over, Barrick shares have plunged by nearly a third in New York trading. "The idea of a big global empire-building gold company basically hasn't worked," said analyst Patrick Chidley at HSBC Holdings. Mr. Christensen will finally get his chance to hear from the Barrick chairman Thursday, when Mr. Thornton joins the company's earnings conference call for the first time.

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