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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG
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To: Wade who wrote (43240)4/30/2013 12:20:55 AM
From: Wade  Read Replies (1) of 48092
 
" Standard & Poor’s dropped its credit rating on the company April 26 to BBB, the second-lowest investment grade, with a negative outlook, citing the company’s intention to issue debt and interruptions at a South American mine. Barrick was cut one level by Moody’s Investors Service on April 24 to Baa2, equivalent to S&P’s rating.

Higher production costs and falling gold prices have lowered Barrick’s gross margin to 47.4 percent in 2012 from 56.2 percent a year earlier, Bloomberg data show. The company burned through $930 million in 2012 and is expected by analysts in a Bloomberg survey to consume $825 million more this year, reversing free cash flow of $342 million in 2011. Gold has fallen 22 percent since peaking at $1,900 an ounce in September 2011."

bloomberg.com
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