Analysts said the exit of Gowans, who has four decades of industry experience, leaves a void of first-hand mining know-how in Barrick’s senior ranks. Deutsche Bank now has $12.00 price target on the stock.
Gold held steady to weaker in Asia on Wednesday as investors awaited the July minutes from the Federal Reserve for what nay prove to be the clearest signal on the timing of a widely predictable rate hike this year. Following this news, BMO downgraded EGO to “market perform” from “outperform” and cut its target price to $5 from $7.
Itau Unibanco Holding SA (ADR) (NYSE:ITUB) reported 7.40 million shares have been exchanged so far while the average volume is about 15.16 million shares. Many analysts have commented on the company rating. On the date of report, the stock closed at $7.06. Credit Suisse reduced their target price on shares of Barrick Gold from $12.50 to $11.50 in a report on Thursday, August 6th.
“Jim Gowans’ operational expertise has been an asset to Barrick and has been evident in the operating performance of the portfolio”, said Scotiabank analyst Tanya Jakusconek, adding that Williams’ appointment as COO comes as a surprise given his lack of operating and technical experience. They set a “sector perform” rating on the stock.
7/16/2015 – Barrick Gold had its “sell” rating reaffirmed by analysts at Barclays. Adjusted earnings came to less than 1 cent on a per-share basis. Sales fell by double-digits, and missed expectations. The company intends to shift its production skew and also implement across-the-board cost reductions.
Macquarie upgraded Barrick Gold to “neutral” from “underperform” in a note to investors Wednesday morning. The 52-week high of Barrick Gold Corporation (NYSE:ABX) is $19.09 and the 52-week low is $6.52. The shares opened for trading at $7.81 and hit $7.98 on the upside, eventually ending the session at $7.87, with a gain of 2.47% or 0.19 points. The stock had a trading volume of 17,496,455 shares. The stock’s market cap is $9.31 billion. For the second quarter of fiscal 2015, diluted earnings per share increased 13.8 percent from the same period in the prior year.
The firm also recently disclosed a quarterly dividend, which will be distributed on Tuesday, September 15th. The share had a block transaction during the course of trading in which the net money flow was $(-0.31) million. The Company is engaged in the creation and sale of gold and copper, together with related activities, including exploration and mine development. The Organization manages in segments: eight individual gold mines, Acacia and Pascua-Lama project.
Barrick Gold Corporation produces and sells gold and copper. The Company has 14 producing gold mines, located in Canada, the United States, Peru, Argentina, Australia, the Dominican Republic and Papua New Guinea.