Gold companies are hardly what comes to mind when thinking of what an efficient and profitable company should be. But that is exactly what Barrick Gold Corp. (TSX:ABX)(NYSE:ABX) has become. When gold prices came crashing down from nearly ...
Barrick has pretty much been the poster boy for wealth destruction in the mining space, but the company is in the middle of a massive turnaround effort, and pundits are starting to believe in the story once again.
April 26 (Reuters) - Barrick Gold Corp, the world's largest gold producer, reported a quarterly loss, compared with a year-earlier profit, as asset sales weighed on production and realized prices fell.
Barrick Gold Corp. (TSX:ABX)(NYSE:ABX) is one of the few gold companies that has managed to take advantage of prolonged low gold prices to put real focus on reducing costs, becoming more efficient, and making a concerted effort to reduce debt.
As it reflects the theoretical cost of buying the company's shares, the market cap of Barrick Gold Corporation (NYSE:ABX) is currently rolling at 22856.6, making it one of the key stocks in today's market.