Barrick Gold Names Kelvin Dushnisky Sole President

Deutsche Bank set their price target at $12.

The changes leave a void at Barrick, as Gowans was the only member in the senior ranks with experience in running mines, analysts said.

8/10/2015 – Barrick Gold had its “hold” rating reaffirmed by analysts at JPMorgan Chase & Co. During the trading, the value of each share was $7.66, dropping -2.67%. Previously, the company had a rating of Underweight. On the date of report, the stock closed at $7.06. Separately, on the same day, J.P. Morgan’s John Bridges maintained a Hold rating on the stock and has a price target of $10.50.

Barrick Gold Corporation (ABX) of the Basic Materials sector (Gold) is down -3.37% already this morning, a change from open of -1.36%. Finally, Credit Suisse reduced their price objective on shares of Barrick Gold from $12.50 to $11.50 in a research note on Thursday, August 6th. They now have a “buy” rating on the stock.

Canadian stocks ended lower for a second straight session on Tuesday, tracking declining global equity markets, as mining stocks plunged after copper prices dropped sharply amid a Chinese stock market tumble.

7/15/2015 – Barrick Gold was downgraded by analysts at Zacks from a “hold” rating to a “sell” rating.

U.S. light crude CLc1 settled down 63 cents, or 1.5 percent, at $41.87 a barrel. Sales fell by double-digits, and missed expectations. “We are also encouraged by its cost management initiatives”.

Barrick Gold Corporation (NYSE:ABX) recently announced the signing of a precious metals streaming agreement with Royal Gold, a smart move given the weak gold pricing environment and the company’s heavy debt burden. The stock was trading on a volume of 9.71 million shares and the average volume of the stock remained 23.79 million shares. The company has a 50-day moving average of $8.49 and a 200-day moving average of $11.21. The company has a market cap of $8,924 million and the number of outstanding shares has been calculated to be 1,165,000,000 shares. In October 2013, Barrick Gold Corporation completed the divestiture of its Yilgarn South assets (Yilgarn South) in Western Australia to Gold Fields Limited.

The gold miner also slashed its dividend by 60 per cent to two cents per share. Shareholders who are residents of Canada or the United States may elect to participate in the Plan commencing with the dividend to be paid on September 15, 2015 to shareholders on record as of August 31, 2015. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.04%.

Barrick Gold Corporation (NYSE:ABX) is a gold mining company. The Company is engaged in associated activities, such as exploration and mine development and sale of copper and gold, together with the generation.

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