Barrick Gold - News & Updates

Ticker Symbol: ABX

Barrick Gold News - Upcoming

Barrick expects to produce between 7.2 million and 7.6 million ounces of gold during 2009, down from 7.66 million in 2008.

Barrick Gold News - Past

On February 20th, Barrick swung to a Q4 loss of US$468 million from a gain of US$537 million during the year-ago period. Results were crushed by a US$774 million non-cash goodwill impairment charge at Kanowna, North Mara, Osborne, and Barrick Energy. Profit dropped 53.5% year-over-year as margins receded.

Full year profit fell to $790 million, or $0.89/share, down from $1.12 billion, or $1.28/share in 2007. 2008 saw record operating cash flow, according to Chief Executive Aaron Regent.

Earlier this month, UBS upgraded Barrick Gold to buy from neutral, citing a $1,000 price target for spot gold.

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