Barrick Gold Corporation (USA) (NYSE:ABX) shares gain by 2.61%


Dallas, Texas 08/26/2013 (Financialstrend) – Shares of Barrick Gold Corporation (USA) (NYSE:ABX) had recently been facing heavy troubles as the prices of its primary commodity, gold were falling down heavily. In the previous year, the stock of this world’s largest miner had dipped heavily such that its market cap had declined below that of much other smaller companies. Further, Barrick Gold had also been reporting heavy losses at $0.67 billion for the previous fiscal year 2012. Moving on to the recent quarter of fiscal year 2013, the gold miner had reported heavy losses at $8.56 billion compared to the losses reported at just $1.93 billion by the smaller mining company, Goldcorp Inc.

In addition, Barrick Gold Corporation (USA) (NYSE:ABX) had also been facing recent troubles from the external environment such as the one that had occurred in Chile where the miner had to pay fines of around $15.8 million for the serious environmental violations involved at the Pascua Lama mine of the company. Further the company had also been making serious attempts to reduce the cost of producing one ounce of gold which is presently at $880 to $950. Above all, the prices of gold had declined by around 25% since October 2012 to further add on to the misery of Barrick Gold.

Shares of Barrick Gold Corporation (USA) (NYSE:ABX) closed on Friday at $20.07 per share, which was observed to be an upward movement in prices by 2.61%. It was further observed that the stock’s intraday price movements were fluctuating in the range of $19.38 to $20.30 per share. On Friday, the stock had attracted around 18.05 million trades in its shares, while for the past 30 days of trading in the market the company had reported average trading volume at 17.81 million shares per day. The stock has a 52 week low of $13.43 and 52 week high of $43.19 per share.

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