UPDATE: BMO Capital Markets Upgrades Barrick Gold Following Q2/13 EPS Report
In a report published Friday, BMO Capital Markets analyst David Haughton upgraded Barrick Gold (NYSE: ABX) from Underperform to Market Perform, and raised the price target from $17.00 to $18.00.
In the report, BMO Capital Markets noted, “Barrick reported Q2/13 adjusted EPS of US$0.66, above BMO Research at US$0.50 and consensus of US$0.58. In addition to the US$0.5B loss on the sale of Barrick Energy, ABX reported a total of US$8.7B in after-tax impairments, including: US$5.1B for Pascua and US$2.3B in goodwill. Barrick cut its quarterly dividend from US$0.20 to US$0.05/sh.”
Barrick Gold closed on Thursday at $16.81.
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