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ABX.N

ISIN: CA0679011084
SEDOL: 2024677

Rating:

SELL

Target Price:

30.27 USD

Investment Horizon:

6 to 12 months
19th Feb 2010 View Report   Download

FY 2009 News Alert

Barrick Gold Corporation (Barrick) announced its FY 2009 results on 18 February 2010. However, given the recent significant appreciation in the common stock, we believe that the NYSE common stock is overvalued and therefore, we maintain our SELL rating. We will reassess our rating for the NYSE common stock in our next update report. We continue to anticipate a significant positive currency impact on the Canadian stock over our investment…

13th May 2009 View Report   Download

Company News Alert

The Barrick Gold Corporation (Barrick) NYSE common stock has appreciated significantly since our FY 2008 update report, reflecting positive investor reaction to rising gold prices. Going forward, our fundamental outlook remains broadly positive, enhanced by the recent approval of the Pascua-Lama project by the Chilean government, which should reinforce gold production over the medium-to-long term. Therefore, even though the target price…

30th Apr 2009 View Report   Download

1Q 09 News Alert

Barrick Gold Corporation’s (Barrick) 1Q 09 top-line beat our estimate due to higher-than-anticipated gold prices. Going forward, our fundamental outlook remains positive, considering the company’s pipeline of development projects. However, at current levels, we see limited upside potential over the coming 6-12 months. Therefore, we maintain our HOLD rating. We will reassess our target price and rating in our next update report. We continue to anticipate a significant positive…

21st Apr 2009 View Report   Download

FY 2008 Update Report

With the increase in gold prices in early 2009, we expect gold prices to increase further over the near term. Furthermore, amidst weakness in global financial markets, we believe demand for gold will be strong, based as an alternative investment option, leading to further gold price increase in FY 2010. The improvement in gold prices and controlled costs, with additional gold volumes from the ongoing projects at Pueblo Viejo…

23rd Feb 2009 View Report   Download

FY 2008 News Alert

Barrick Gold Corporation (Barrick) announced its FY 2008 results on 20 February 2009. The top- and bottom-lines were above our estimates due to higher-than-anticipated gold prices. Going forward, our fundamental outlook remains positive, considering the company’s pipeline of development projects. However, given the recent sharp rise in the common stock price, we believe the company is fundamentally overvalued and maintain our SELL…