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Barrick Gold Corp
Symbol C : ABX
Shares Issued 1,001,107,981
Close 2013-01-25 C$ 33.02
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Inv Reporter refreshes Barrick Gold buy

2013-01-25 21:39 ET - In the News

The Investment Reporter, in its Jan. 18, 2013, issue, refreshes its buy of Barrick Gold Corp., recently $34.14. The Reporter said buy 21 times from Nov. 17, 1995, to Aug. 24, 2012, at prices ranging from $23.52 to $47.75. Assuming an investment of $1,000 for each of the 21 buys, the $21,000 position would now be worth $23,454. Barrick tried to sell its stake in African Barrick Gold PLC to China National Gold. This move would eliminate Barrick's ownership of high-cost mines and at the same time raise money, helping the company to maintain its credit rating. However, the company called off discussions for the transaction on Jan. 9, 2013. President and chief executive officer Jamie Sokalsky indirectly stated that the transaction does not generate "acceptable value" for the company, as African Barrick Gold's assets hold "significant potential." With mostly low-cost mines and high gold prices, Barrick remains a buy.

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