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ABX

Symbol changed to GOLD

$11.03

0.55 (5.25%)

, GOLD

Barrick Gold

$68.12

4.18 (6.54%)

07:04
09/25/18
09/25
07:04
09/25/18
07:04

Citi sees Randgold deal as win for Barrick, upgrades shares to Buy

Citi analyst Alexander Hacking upgraded Barrick Gold (ABX) to Buy from Neutral and raised his price target for the shares to $14 from $11 saying the company's acquisition of Randgold (GOLD) is a win for Barrick on two levels. One, Barrick management gets an upgrade to the most successful CEO in the sector, which adds "significant credibility" to its turnaround, Hacking tells investors in a research note. And two, the deal solidifies Barrick's capital allocation by removing the acquisition overhang and accelerating assets sales, the analyst adds. He also sees a favorable gold price backdrop with gold "relatively beaten up" at $1,200 per ounce. Hacking coupled the upgrade with a downgrade of Goldcorp (GG) to Neutral from Buy citing the stock's 15% outperformance versus Barrick in the past year.

ABX

Symbol changed to GOLD

$11.03

0.55 (5.25%)

GOLD

Barrick Gold

$68.12

4.18 (6.54%)

GG

Goldcorp

$10.64

0.03 (0.28%)

  • 25

    Sep

ABX Symbol changed to GOLD
$11.03

0.55 (5.25%)

08/28/18
SBSH
08/28/18
UPGRADE
SBSH
Neutral
Barrick Gold upgraded to Neutral from Sell at Citi
08/28/18
SBSH
08/28/18
UPGRADE
Target $11
SBSH
Neutral
Barrick Gold upgraded to Neutral from Sell at Citi
Citi analyst Alexander Hacking upgraded Barrick Gold (ABX) to Neutral from Sell but lowered his price target to $11 from $12 as part of his broader research note on North American gold miners. The analyst states that he is still neutral on the sector, even though the risk for the price of gold is now "skewed to the upside", adding that he still prefers copper miners based on their superior growth to free cash flow profile. Hacking states that Barrick Gold is particularly compelling, with the stock price having fallen about 30% and sees little support for the bear case with gold price close to $1,200/oz, adding that the stock may be nearing a bottom and has a potential to outperform if it can "rebuild" investor trust with execution. As part of his research note, the analyst also lowers his price target on Agnico Eagle (AEM) to $38 from $45, Goldcorp (GG) to $14 from $16, and Newmont Mining to $36 from $42.
09/25/18
SBSH
09/25/18
UPGRADE
Target $14
SBSH
Buy
Barrick Gold upgraded to Buy from Neutral at Citi
Citi analyst Alexander Hacking upgraded Barrick Gold (ABX) to Buy and raised his price target for the shares to $14 from $11 following the company's acquisition of Randgold (GOLD).
09/25/18
JPMS
09/25/18
DOWNGRADE
Target $68
JPMS
Neutral
Randgold downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Luke Nelson downgraded Randgold (GOLD) to Neutral and lowered his price target for the shares to $68 from $91. The analyst sees limited chance of a competing bid to emerge following the company's takeover by Barrick Gold (ABX).
GOLD Barrick Gold
$68.12

4.18 (6.54%)

08/17/18
DESJ
08/17/18
UPGRADE
DESJ
Buy
Randgold upgraded to Buy from Hold at Desjardins
08/29/18
UBSW
08/29/18
UPGRADE
UBSW
Buy
Randgold upgraded to Buy from Neutral at UBS
UBS analyst Daniel Major upgraded Randgold Resources to Buy with a price target of 6,000p. After underperforming in the 2018, the shares offer an attractive risk/reward profile, Major tells investors in a research note. The analyst sees the company meeting its guidance and anticipates its excess cash will be returned to shareholders. He also believes risks to gold prices are skewed to the upside.
GG Goldcorp
$10.64

0.03 (0.28%)

01/15/18
FBCO
01/15/18
UPGRADE
Target $19
FBCO
Outperform
Goldcorp upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse analyst Anita Soni upgraded Goldcorp to Outperform and raised her price target for the shares to $19 from $15.50. The shares closed Friday up 45c, or 3%, to $14.35. Soni sees Goldcorp posting "attractive" growth over the next two years and believes its analyst day on January 16 will serve as a positive catalyst for the shares. The analyst views the company's valuation as attractive relative to peers.
04/23/18
ADAM
04/23/18
UPGRADE
ADAM
Buy
Goldcorp upgraded to Buy from Hold at Canaccord
09/25/18
SBSH
09/25/18
DOWNGRADE
SBSH
Neutral
Goldcorp downgraded to Neutral from Buy at Citi
Citi analyst Alexander Hacking downgraded Goldcorp to Neutral and lowered his price target for the shares to $12 from $14.

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LB

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UNM

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PGTI

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CPG

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MMI

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NGD

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KIN

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VIPS

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CVET

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WEN

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