08:56:04 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,166,263,347
Close 2017-10-20 C$ 20.22
Market Cap C$ 23,581,844,876
Recent Sedar Documents

Globe says Lesiak maintains Barrack Gold at "buy"

2017-10-23 06:25 ET - In the News

The Globe and Mail reports in its Saturday edition that Canaccord analyst Tony Lesiak cut his share target for Barrick Gold to $25 from $27.50, while keeping his "buy" rating. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $25.24. Barrick said Thursday it will give Tanzania a 16-per-cent interest in three gold mines, a 50-per-cent share in revenues from the mines and a one-off payment of $300-million to resolve a dispute. Mr. Lesiak says in a note: "It appears that ABX management have fallen victim to resource nationalization again, this time in Tanzania, which furthers the dangerous precedence set from management's dealings with the Government of the Dominican Republic (Pueblo Viejo). We question whether all foreign jurisdictions will now also request a new '21st century partnership' as management has referred to the proposed framework. Based on our understanding, the proposed framework has lowered Barrick's attributable operating NAV (for Acacia) by $418-million or 36 cents per share and lowered ABX's attributable production between 60 and 80kozs. The lifting of the ongoing concentrate ban could result in the restart of operations at Bulyanhulu."

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