In a report published Friday, BMO Capital Markets analyst David Haughton upgraded Barrick Gold 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.