Barrick Gold Corporation (USA)(NYSE:ABX) Upgraded


Dallas, Texas 02/26/2014 (FINANCIALSTRENDS) – Barrick Gold Corporation (USA)(NYSE:ABX) quarterly earnings reported recently continues to make news. The gold mining company has reported  EPS of $0.37, which narrowly missing the consensus estimate reported of $0.44. The drop is by over $.07.

Rating upgrades

Barrick Gold Corporation (USA)(NYSE:ABX) has following the announcement of results reported an upward rating. The company is found to have moved forward across the sector. The company indicated that the upgrade for the company has been to outperform from the position of Sector Perform. Besides, the price target too was revised t $28. The increase was found to be in the region of $24 according to RBC apital. The company has also revealed that it will offer assumptions on prices for both the precious commodities.

Barrick Gold Corporation (USA)(NYSE:ABX), as viewed by RBC is able to hold extraordinary stock market values. The analyst expects this gold and silver mining company to reach the Outperfomr statistics in its peer group. This is because of several good fundamental reasons.

Barrick Gold Corporation (USA)(NYSE:ABX) cash flow, according to the analyst is free flowing. This is because of the recention mine plan revisions that are being executed. Additionally, the consistency with which the company has been divesting from its higher-cost assets, is definitely an indicator of the things to come. The company will also see much of the advanced stages of development such as the projects for long term- Goldrush as well as Pascua-lama. These fundamental measurement and enhanced management of operations has definitely indicated better agility for this miner in terms of cash flow and the operations front. The increase breadth of movement will now allow concentrating more on the above-average performing assets which are less expensive to operate over its erstwhile portfolio which did not allow for higher leverage for the new projects.

Barrick Gold Corporation (USA)(NYSE:ABX) expects to see steady growth over the next quarters of the fiscal.

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