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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| African Barr | ABG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 235.20 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 235.20 | 235.20 |
| Top Posts |
|---|
Posted at 10/9/2014 09:45 by addison17 ABG doing well this morning for some strange reason, up over 4% so far this morning. |
Posted at 12/3/2014 13:08 by mechanical trader Canaccord sees buying opportunity at African Barrick Gold after sell-off12 March 2014 11:24 The 17 per cent share price slump of African Barrick Gold (ABG) has created a buying opportunity, according to Canaccord Genuity on Wednesday. The broker kept a 'buy' recommendation and 315p target price for ABG. Shares fell sharply on Tuesday after parent company Barrick Gold disposed of 41m shares - representing a 10% stake - to lower its holding to 63.9%. "We believe the magnitude of the price drop was exacerbated by the profit taking following the best performance among UK peers since mid-2013. The fall we think opens up a buying opportunity," said analysts Dmitry Kalachev and Peter Mallin-Jones. Among their key reasons to buy the stock, the analysts highlighted free cashflow (FCF) which is expected to average $230m per annum between 2015 and 2020. This translates into a FCF yield of 13% which is the highest among ABG's London-listed peers under Canaccord's coverage. Adding growth projects would see FCF rise to $280m per annum at a 16% yield. They also pointed to a robust balance sheet, strong production growth and easing upwards pressure on costs. Addressing recent speculation that Barrick Gold could move to sell-down its remaining stake, Kalachev and Mallin-Jones said ABG now represents only 7% of the parent company's annual production so even a total disposal of the entire 63.9% stake will improve Barrick's costs by only around 2%. "The sale at any cost in order to improve cost profile looks out of the question and this, we think, reduces the overhang risk from the remaining stake," they said. The stock, which hit a low of 229.3p in early trading on Wednesday, had trimmed losses to trade just 1.4% down at 246.5p by 11:45. BC Related Companies: ABG |
Posted at 12/3/2014 08:55 by bobsidian Probably when the share price has been moved back down to test the 200 day Simple Moving Average.The silence of Goldman Sachs on the move up is noteworthy. It would not be surprising to see it using all its tricks to drive the share price back down. Doubtless ABG will appear on its "conviction sell" list. |
Posted at 11/3/2014 15:25 by forwood This is harshAfrican Barrick Gold PLC Given "Sell" Rating at Citigroup Inc. (ABG) African Barrick Gold PLC (LON:ABG)'s stock had its "sell" rating reiterated by research analysts at Citigroup Inc. in a report released on Tuesday, Analyst Ratings News reports. They currently have a GBX 179 ($2.99) price objective on the stock. Citigroup Inc.'s price target would indicate a potential downside of 41.90% from the company's current price. etc. " |
Posted at 11/3/2014 11:25 by forwood Makes you wonder if the current run was a pump and dump exercise. ABG had significantly outperformed all the other goldies and I couldn't see a good reason for it. Now I can |
Posted at 11/3/2014 09:51 by drewz The city spivs inevitably have to be given their pound of flesh before they'll play ball.I expect gold to keep heading higher towards $2000 as this year plays out and the dire state of the US economy becomes apparent to all. Ms Yellen will reverse her taper attempt and crank up the dollar printing to try and stave off depression. As 2014 unfolds, the dollar and US bond markets will tank and gold will spike higher. In which case ABG will keep marching north through 450p, this hiatus notwithstanding. |
Posted at 12/2/2014 08:46 by drewz Watched Brad Gordon interview on CNBC this morning to accompany annual results.He explained much improved costs per oz was due to costs being taken out, not higher greades being mined, and that there is plenty more to come through 2014-15, both in taking out overhead costs and improving mining costs. Also, he explained ABG is still mining ore below the reserve grade so there is capacity for higher grade cost per oz improvement there too. He believes analyst coverage rating ABG only a 'hold' is based on gloomy prognostications on forward gold price, and doesn't take into account ABG's operational improvements. He says ABG will do much better over next 2 years, even in current gold price environment. (Said he doesn't predict future gold price). Still a BUY even after past 3 months relative outperformance. If you then factor in gold back above $1500 this year, there is plenty more gas in the tank here, back towards 400p. |
Posted at 04/2/2014 11:02 by hectorp The miners index is rising, as has ABG recently ( but taking a hit today, not sure why, perhaps a rection to Randgold's share price?) I am agraid Questor has a point, re. 'marginal'. However if gold moves to even $1300, ABG will rise rapidly. But I'm not so sure as I was about this company. |
Posted at 18/10/2013 12:53 by drewz ABG is a better bet than Randgold because current ABG price is more distressed than Randgold: more risk = more reward, potentially.ABG has had problems. ABG is in process of restructuring. Eventually, if sucessful, the discount in the ABG price will be unwound. In other words, ABG is more highly geared to any recovery in the gold price. Also Randgold is more fully covered by city fund managers so less opportunity for price discovery. So I consider there to be more upside in ABG than in Randgold. Hope this helps. |
Posted at 18/10/2013 12:36 by robrah Ok dewz lets take your base case. Can you explaine why abg is a better bet the rand gold .?Randgold deliver more gold . They have a better cost structure . They dont have the same power problem like abg . Nor do they have major local problem .So at any gold price why would abg be better the randgold . Evn if price of gold was 2000 . Why would i go for abg when randgold is so much more better ?And if the prospect so superb why would the parent allow abg to go independent .why would they throw their crown jewels ? |
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