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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 | 10:19am EDT
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 -1.48% 16.01 Delayed Quote.-11.83%
GOLD -0.11% 1273.2 Delayed Quote.-0.37%
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Financials ($)
Sales 2019 8 264 M
EBIT 2019 1 800 M
Net income 2019 621 M
Debt 2019 2 858 M
Yield 2019 1,40%
P/E ratio 2019 36,37
P/E ratio 2020 29,71
EV / Sales 2019 2,94x
EV / Sales 2020 2,76x
Capitalization 21 420 M
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Technical analysis trends BARRICK GOLD CORP
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Mean consensus HOLD
Number of Analysts 18
Average target price 15,7 $
Spread / Average Target 28%
EPS Revisions
Managers
NameTitle
Dennis Mark Bristow President, Chief Executive Officer & Director
John Lawson Thornton Non-Independent Executive Chairman
Graham P. Shuttleworth Chief Financial Officer & Senior Executive VP
Gustavo A. Cisneros Independent Director
J. Brett Harvey Lead Independent Director
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