08:16:04 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Barrick Gold Corp
Symbol ABX
Shares Issued 1,167,593,272
Close 2019-01-03 C$ 17.57
Market Cap C$ 20,514,613,789
Recent Sedar Documents

Globe says CIBC's Soni resumes coverage on Barrick Gold

2019-01-04 07:54 ET - In the News

The Globe and Mail reports in its Friday edition that after Barrick Gold ($13.19) completed its acquisition of Randgold Resources, and now has new chief executive officer Mark Bristow at the helm, CIBC analyst Anita Soni is resuming coverage of the stock with an "outperformer" rating and $17 share target (all figures (U.S.). The Globe's Gillian Livingston writes in the Eye On Equities column that CIBC previously rated Barrick "neutral," with a $14.50 share target. Analysts on average target the shares at $14. Ms. Soni says in a note: "The newly combined company will create a platform of the highest concentration of Tier 1 assets, combined with a strong management team known for delivering industry-leading returns for investors. We believe Barrick provides a unique opportunity to garner a premium multiple. Barrick owns five of the world's top 10 Tier 1 gold assets and extensive land positions in major gold districts. The diverse asset portfolio of 21 mines and six projects across North and South America, Australasia and Africa offers significant opportunities for production growth, asset rationalization, operational improvement, and optimization through exploration additions and mineral resources management."

© 2024 Canjex Publishing Ltd. All rights reserved.