Barrick Must Work to Shine

Tags: abx
10 Dec 1:01am
Posted by ZacksResearch
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Barrick Gold Corp. (ABX) is the largest gold mining company in the world. Profitability is being helped by rising gold prices and synergies from the Placer Dome acquisition. The 100% acquisition of the Cortez mine will boost gold production. Also, the company's financials are solid.

However, Barrick expects lower production for the full-year 2008 on the back of rising energy and gold prices. This forces us to rate the shares a Hold with a target of $25.00.

Barrick Gold has a portfolio of 27 operating mines, many advanced exploration and development projects located across five continents, and large land positions on the most prolific and prospective mineral trends. The company also has the largest reserves in the industry, with 124.6 million oz of proven and probable gold reserves and 6 billion pounds of copper reserves.

Read the full analyst report on ABX




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