15:19:15 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,165,215,209
Close 2016-08-23 C$ 25.93
Market Cap C$ 30,214,030,369
Recent Sedar Documents

Globe says Barrick Gold maintained at "sector perform"

2016-08-23 06:59 ET - In the News

The Globe and Mail reports in its Tuesday edition that RBC Capital Markets analyst Stephen Walker says Barrick Gold ($20.39) continues to pay down debt with a potential $3.2-billion in non-core asset sales (all figures U.S. unless otherwise stated). The Globe's Karen Ho writes in the Eye On Equities column that following $126-million in debt repayments in the second quarter, Barrick has $2.4-billion in cash, $9-billion of debt and a debt to total cap (ratio) of 48 per cent. Mr. Walker kept his "sector perform" rating. He increased his share target to $25 from $24. Analysts on average target the shares at $22.92. Mr. Walker says in a note, "Debt repayment continues with potential for $3.2-billion in non-core asset sales." While Mr. Walker forecasts production to decline over 2018 to 2020, "before new projects contribute," he notes "potential non-core asset sales include the 64-per-cent stake in Acacia ($2.1-billion), the 50-per-cent stake in Porgera ($505-million) and the 50-per-cent stake in KCGM ($728-million) at $1,350 gold at 5 per cent." Citi analyst Alexander Hacking commenced coverage on Barrick in the Eye column on Aug. 3 with a "buy" rating. The shares were the worth $29.74 (Canadian).

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