07:12:19 EDT Fri 29 Mar 2024
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or Name
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,165,430,940
Close 2017-01-10 C$ 22.22
Market Cap C$ 25,895,875,487
Recent Sedar Documents

Post says Citi keen on Barrick, Teck, Lundin Mining

2017-01-10 09:41 ET - In the News

Also In the News (C-LUN) Lundin Mining Corp
Also In the News (C-TECK) Teck Resources Ltd

The Financial Post reports in its Tuesday edition that the mining sector will enjoy a positive year of growth in 2017, an industry analysis by Citi suggested Monday. The Post's Sunny Freeman writes that Citi believes miners will enjoy increased free cash flow, upward earnings momentum and the potential to return excess capital to shareholders. They will not, however, see gains similar to those of 2016, and the odds of mining overperforming the rest of the market are weak. Last year's strong mining and commodities performance follows five straight years of underperformance. Citi believes 2017 could unfold for the sector similar to 2010, when momentum from the postrecession bounce in 2009 continued. The mining sector outperformed the markets by 49 per cent last year, just marginally lower than the industry's 51-per-cent showing in 2009. Momentum slowed down during the last quarter "driven by relatively poor performance in December as investors probably booked some profits," Citi analysts wrote in the note. "The fear of missing out on another year of outperformance is more likely to win and draw more investors into the sector, in our view." Citi favours Barrick Gold, Teck Resources and Lundin Mining.

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