07:51:16 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,165,774,844
Close 2017-07-06 C$ 20.34
Market Cap C$ 23,711,860,327
Recent Sedar Documents

Globe says Barrick Gold cut to "market perform"

2017-07-07 07:06 ET - In the News

The Globe and Mail reports in its Friday, July 7, edition that BMO Capital Markets analyst Andrew Kaip says there is uncertainty over Barrick Gold's ($15.66 (U.S.)) 63.9-per-cent interest in Acacia Mining, which "has been in an escalating dispute with the Tanzanian government that has led to the initial steps toward arbitration and now radical changes to the mining and tax law." The Globe's Gillian Livingston writes in the Eye On Equities column that Mr. Kaip downgraded the stock to "market perform" from "outperform" and lowered his target price to $18 (U.S.) from $21 (U.S.). Analysts on average target the shares at $20.20 (U.S.). Mr. Kaip says in a note, "ABX is increasingly being drawn into the discussion given its interest in ACA and the Tanzanian government's demand to negotiate directly with ABX." He lowered his share target "based on an equal weighting of 1.5 times NPV [net present value], 5 per cent and 10 times 2018E CFPS [cash flow per share]. Trading at 2.4 times NPV5 per cent versus the large producer peers at 2.0 times, shares of ABX are trading above peers with risk to the downside, in our view."

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