African Barrick Gold Share Discussion Threads

[addison17] 16/1/2013 09:16

Well TS due tomorrow, do we think ABG have actually managed to get any gold out of the ground, or will it be the usual long list of production problems,and bad news. Just about at the end of my ...... with this share.

[enami] 11/1/2013 08:32

Goldman Sachs Resumes Neutral, Target 370
Liberum Capital Downgrades To Sell, Target 365
Morgan Stanley Resumes Equal weight, Target 415

[billytkid2] 09/1/2013 15:31

Merrills has restarted coverage with a BUY and a £4.80 target.

[enami] 09/1/2013 14:56

No RNS for this news item.

Following the release of ABG's fourth quarter 2012 production results on Thursday 17th January at 07:00 UK time, there will be a conference call for investors and analysts at 09:00 UK time on the same day.

[enami] 09/1/2013 08:15

Deutsche Bank Retains Hold Target Reduced From 520 To 490
Nomura Downgrades To Neutral Target Reduced From 525 To 435

[alan@bj] 09/1/2013 08:14

From the comments in the Westinghouse downgrade, I would say there is more chance of upside than downside now.

[a.fewbob] 08/1/2013 23:10

Wow, big drop! Whats the divi on these?

[major clanger] 08/1/2013 17:29

Downgraded by Westhouse apparently...

Saw this:

[makday] 08/1/2013 16:10

This will settle back upto £4.00+...the fall has been way overdone!!!!

[bobsidian] 08/1/2013 14:23

Trading now at around 18 times forecast 2012 earnings whilst at a discount to the net tangible asset value per share. Compare to FRES or RRS which trade at massive premiums to the same underlying asset metric. The suggestion by market forces by the way it has chosen to write out the apparent bid premium was that the majority shareholder in ABG was willing to sell its stake for little more than its initial investment. Really ? No doubt the Chinese would have been looking to pick up the majority stake in ABG for comparative buttons because it was considered by the majority shareholder to be non-core.

"This Co must be in difficulties."

Hardly. Highly cash generative. Subject to broader equity market moves it would not be surprising to see the share price of ABG stage one of its "miraculous" rebounds in the days ahead back whence it tumbled to align itself once more with FRES and RRS.

You have to marvel at the "efficiency" of equity market forces. Given all the recent attention by fund managers to producing gold miners and to apparent selective valuation anomalies it would not be surprising to see fund inflows into that sub-sector. Doubtless they are seeking a catalyst to justify the rotation.

[bulltradept] 08/1/2013 14:05

"Looking for a drop to around 3.50"

Well, you go the drop today!

[moonparty] 08/1/2013 11:31

I have had these on my watch list for a while, thankfully not invested yet.
What does everyone think the floor price is?
From the chart, support is at around 310 - 320. Worth waiting to see if I can get this price?

[billytkid2] 08/1/2013 10:53

Absolutely. I'm going to hold, because of the fall in price a number of the stocks are now paying ok divis and I still believe we will see gold over $2000 in 2013.

[hectorp] 08/1/2013 10:51

So it has, the time to buy was late in 2008 but hindsight is a fine thing.

We see ABG was clearly overvalued when the Chinese won't pay the $2 billion for 73%.
So of course it has to find a fairer valuation.
Perhaps now , with Barrick's continued ( but enforced and grudging? support) it will prove to have found its correct price... close watch.

[billytkid2] 08/1/2013 08:29

Yep me too. About 2 years ago I decided to buy a basket of gold miners, it has been a disaster.

[philo124] 08/1/2013 08:21

Another Dog to add to the list; i should open a kennel club.

[philo124] 08/1/2013 08:07

About Right!

[billytkid2] 08/1/2013 07:42

Ouch. This will hurt this morning.

[philo124] 08/1/2013 07:25

They think it's all over...

[enami] 14/12/2012 16:19

It's still on the table.

[philo124] 14/12/2012 15:54

What happened to the Chinese Bid?

[enami] 06/12/2012 16:54

Very quiet here..

Strange finish today, jumped up 10p in the closing auction UT 507,300 shares.

Indicative of bid news tomorrow????