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GOLD

Barrick Gold

$12.12

-0.07 (-0.57%)

19:18
05/21/19
05/21
19:18
05/21/19
19:18

Barrick says Acacia proposal reflects 'fair value' following Tanzania talks

Barrick Gold Corporation provided an update in relation to Acacia. Barrick met today with the Directors and senior management of Acacia and presented a proposal to acquire all of the shares it does not already own in Acacia through a share for share exchange of 0.153 Barrick shares for each ordinary share of Acacia. The Proposal assumes that no further dividends will be paid by Acacia following the date of the Proposal. The exchange ratio is based on the 20-day volume weighted average trading prices of Acacia and Barrick as at market close in London and New York on 20 May 2019. This implies a value for Acacia of $787M and total consideration to the minority shareholders of Acacia of $285M. Barrick has been negotiating with the Government of Tanzania for the last two years to seek a basis for a settlement of Acacia's ongoing disputes with the GoT and to establish a viable framework under which Acacia could resume its full operations in Tanzania and rebuild its relationships with the GoT. While a basis for a settlement has been developed but not finalized, in meetings this past weekend, the GoT stated that it is not prepared to enter into a settlement directly with Acacia. As a consequence of the negotiations with the GoT, Barrick has had the opportunity to undertake detailed due diligence on the Acacia assets and on the basis of this work has concluded that the Proposal reflects the fair value of the company. Since the Proposal is in Barrick shares, the Acacia minority shareholders will be able to benefit from any future potential upside in both the Acacia assets and Barrick's broader portfolio of assets.

GOLD Barrick Gold
$12.12

-0.07 (-0.57%)

04/09/19
LEHM
04/09/19
NO CHANGE
LEHM
Barclays still positive on Metals and Mining, downgrades three on valuation
Barclays analyst Matthew Murphy remains positive on shares in the North America Metals and Mining space. The potential for higher recession probabilities could still drive demand for "safe assets," Murphy tells investors in a research note. Further, copper should benefit from a sequential acceleration in China during Q2, says the analyst. He sees several names with "significant upside" and "catalyst potential" including Teck Resources (TECK), Barrick Gold (GOLD), and Newmont Mining (NEM) and Goldcorp (GG). To reflect valuation, Murphy upgraded OceanaGold (OCANF) to Overweight from Equal Weight and downgraded to Equal Weight from Overweight shares of Agnico Eagle (AEM), Franco-Nevada (FNV) and Wheaton Precious Metals (WPM).
04/10/19
DBAB
04/10/19
UPGRADE
Target $15
DBAB
Buy
Barrick Gold upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Chris Terry upgraded Barrick Gold to Buy from Hold and raised his price target for the shares to $15 from $12.75.
04/10/19
DBAB
04/10/19
DOWNGRADE
Target $10
DBAB
Hold
Ryerson downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Chris Terry downgraded Ryerson to Hold from Buy and lowered his price target for the shares to $10 from $12. The analyst increased his precious metal exposure by upgrading both Barrick Gold (GOLD) and Pan American Silver (PAAS), but he's "not outright positive" on the Metals & Mining sector. While the analyst is still cautious on the stability of conditions in China, he notes there has been an improvement in growth conditions and "some strides" towards a trade deal with the U.S.
04/10/19
DBAB
04/10/19
UPGRADE
Target $15
DBAB
Buy
Deutsche upgrades Barrick to Buy on more favorable gold view
Deutsche Bank analyst Chris Terry upgraded Barrick Gold to Buy from Hold and raised his price target for the shares to $15 from $12.75. The analyst cites valuation for the upgrade after his firm's increased its view on gold prices. Further, he believes cost-out opportunities, synergies in Nevada and potential divestment opportunities that could provide positive catalysts for Barrick shares.

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SEE

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SEE

Sealed Air

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AJRD

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SEE

Sealed Air

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BBU

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, BAM

Brookfield

$48.38

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Syndicate
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BBU

Brookfield Business Partners

$41.25

1.28 (3.20%)

BAM

Brookfield

$48.38

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AXLA

Axcella

$10.39

0.27 (2.67%)

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LKSD

LSC Communications

$5.83

0.07 (1.22%)

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QUAD

Quad/Graphics

$9.75

0.09 (0.93%)

, LKSD

LSC Communications

$5.83

0.07 (1.22%)

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QUAD

Quad/Graphics

$9.75

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LKSD

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$5.83

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SFM

Sprouts Farmers Market

$19.52

0.14 (0.72%)

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NAKD

Naked Brand Group

$0.27

0.0025 (0.93%)

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Syndicate
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HPQ

HP Inc.

$20.85

0.22 (1.07%)

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HP Inc. General Counsel sells 20K shares of common stock »

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CPT

Camden Property

$107.61

0.57 (0.53%)

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Camden Property COO sells 16.2K shares of common stock »

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COMM

CommScope

$16.00

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CommScope's distributed antenna system patents upheld in favorable ruling »

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INVH

Invitation Homes

$27.68

-0.07 (-0.25%)

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EGY

VAALCO Energy

$1.55

0.03 (1.97%)

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ENTG

Entegris

$38.50

1.36 (3.66%)

, INTC

Intel

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$38.50

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INTC

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TSM

TSMC

$40.52

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General news
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LH

LabCorp

$168.01

-1.54 (-0.91%)

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Upgrade
LabCorp rating change at Deutsche Bank »

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  • 20

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FNKO

Funko

$24.25

2.02 (9.09%)

16:35
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Initiation
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  • 25

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HSIC

Henry Schein

$70.96

-1.06 (-1.47%)

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General news
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CTRV

ContraVir Pharmaceuticals

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MTX

Minerals Technologies

$59.21

0.34 (0.58%)

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