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Sterne Agee Reiterates Neutral Rating on Barrick Gold

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In a report published Monday, Sterne Agee Group reiterated its Neutral rating on Barrick Gold (NYSE: ABX).

Sterne Agee noted, “Newly appointed CEO Jamie Sokalsky had to deliver disappointing news, but much needed clarity and direction. While the industry struggles with capital allocation direction and volume growth, Barrick's underperforming Equinox purchase and a shockingly recalculated Pascua capital cost estimate now appear to have been well discounted. Shares oversold, but may be range bound relative to peers.”

Barrick Gold closed on Friday at $32.73.

Latest Ratings for ABX

DateFirmActionFromTo
Jul 2017BMO CapitalDowngradesOutperformMarket Perform
Jun 2017BerenbergUpgradesSellHold
Jun 2017Raymond JamesReinstatesMarket PerformMarket Perform

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