Barrick Gold (ABX) Message Board

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Gold/Mining/Energy : Barrick Gold (ABX)

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To: russet who wrote (3487)	11/27/2004 2:11:18 AM
From: russet	Read Replies (1) of 3558

LOL Globe says Butler serves Barrick with a "buy" rating 2004-11-26 07:16 ET - In the News See In the News (C-ABX) Barrick Gold Corp The Globe and Mail reports in its Friday, Nov. 26, edition that Barrick Gold has been laggard in recent years. The Globe's Angela Barnes writes in the Tip Sheet column that Barrick's shares have risen 30.3 per cent over the past three years on the Toronto Stock Exchange, while Placer Dome's shares have climbed 61.2 per cent and Newmont Mining's shares have gained 98.9 per cent. Canaccord Capital analyst Steven Butler expects Barrick stock to outclass its large-cap peers in the near to medium term. He notes Barrick is targeting a 40-per-cent increase in output between now and 2007. Mr. Butler sees Barrick's profit likely climbing to $1.16 (U.S.) in 2007 from 30 U.S. cents a share this year, while cash flow doubles to $2 (U.S.) from $1 (U.S.) over the same period. The anticipated outperformance by Barrick's shares is one factor that led him to commence coverage of Barrick with a "buy" recommendation. He notes that 84 per cent of Barrick's reserves are unhedged. He said that if the expected reserve additions are factored in, Barrick's shares actually represent above-average leverage, in terms of net asset value, to the gold price, which has been rising.

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