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Barrick Gold Corporation Message Board

  • chevymalibu1966 chevymalibu1966 Feb 15, 2013 8:31 PM Flag

    longs - reason for spike on feb. 14th earnings day

    remember we were trading and in the low 32's. then we spiked to 33.36 and held the 33's. I just saw in my inbox that several companies are interested in ABX's assets. I can cut and paste some of the article is you wish. It's a SA article. maybe we rise soon on streamlining.

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    • tcracker09 Feb 17, 2013 2:26 PM Flag

      ABX longs, listen...
      We are sitting at a 43% "correction" from $55.95 a year and a half ago. It's time to buy, hold with confidence. The GLD fund has corrected 11%, and is a buy. As you can see, the miners are way too low. Gold and the miners aren't going lower. Relax. ABX will not be acquired. Canadians are protective about their resources.

      • 1 Reply to tcracker09
      • tcracker09 Feb 17, 2013 2:37 PM Flag

        Also, the adjusted EPS was $1.11 right near the high analyst estimate! $.83 was low end, $1.02 was average, and $1.13 was the high estimate, so ABX reported a "beat" in EPS. Cash flow is 5.4 billion $. The 43% correction is behind them, and so is the write-down of over 3.8 billion $. BUY ABX. That was the reason for the spike. If investing in ABX was so grimm, that $31 support would have been broken last week I'm sure of it, but it held a "higher" low. A sign of a bottom is volatility, and we got that last week. Up nicely, and back down with the index. GDM, and GDX sold off more on Friday than ABX! I bought in at $31.78 and I am not worried in the lease. Holding my decision. ABX goes up from here.

    • Like what assets are they going to sell and how much are they going to get? They said the phone was ringing off the hook.....

    • Barrick Gold (ABX +4.4%) shares spike on rumors the company has been approached by many different buyers about its assets. Shares already were higher after Q4 adjusted earnings came in at a better-than-expected $1.11/share.

16.89-0.07(-0.41%)Oct 25 4:00 PMEDT