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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Barrick Gold Corp    ABX   CA0679011084

BARRICK GOLD CORP (ABX)
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Barrick Gold to sell assets, reduce head-office management: WSJ

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12/06/2018 | 04:19pm CET
Dump trucks carrying minerals operate at Barrick Gold Corp's Veladero gold mine in Argentina's San Juan province

(Reuters) - Barrick Gold Corp will sell a research and development company it owns and reduce its technology staff, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

The gold miner expects to close its Randgold Resources Ltd purchase Jan. 1, and incoming CEO Mark Bristow has said he plans to sell a variety of noncore core assets, cut costs and shrink head-office management to help delegate more authority to regional mining operations, according to the WSJ report.

In recent months, Barrick has disbanded or shrunk technology based teams at its head office in Toronto and at its mining operations in Nevada, the report said.

One of the first assets to go on the block is Barrick-owned AuTec Innovative Extractive Solutions Ltd, which specializes in testing mineral samples and processing, people familiar with the matter told WSJ.

Sham Chotai, Barrick's chief digital officer, left last month, the report said.

Barrick declined to comment when contacted by Reuters.

(Reporting by Arundhati Sarkar in Bengaluru; Editing by Sriraj Kalluvila)

Stocks mentioned in the article
ChangeLast1st jan.
BARRICK GOLD CORP 0.53% 18.85 Delayed Quote.3.69%
GOLD -0.35% 1237.99 Delayed Quote.-4.34%
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Financials ($)
Sales 2018 7 346 M
EBIT 2018 1 897 M
Net income 2018 269 M
Debt 2018 3 911 M
Yield 2018 0,82%
P/E ratio 2018 39,22
P/E ratio 2019 30,78
EV / Sales 2018 2,78x
EV / Sales 2019 2,43x
Capitalization 16 486 M
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Technical analysis trends BARRICK GOLD CORP
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TrendsBullishBullishNeutral
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 21
Average target price 15,0 $
Spread / Average Target 5,9%
EPS Revisions
Managers
NameTitle
John Lawson Thornton Non-Independent Executive Chairman
Catherine Phillipa Raw Chief Financial Officer & Executive Vice President
Gustavo A. Cisneros Independent Director
Anthony Munk Independent Director
Steven J. Shapiro Independent Director
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