Investment analysts at Sterne Agee CRT upgraded shares of Barrick Gold Corp. (ABX) from a Neutral to a Buy rating. The brokerage firm has a price target of $12.00 on the company's stock.
Barrick Gold recently completed the sale of its 70% interest in the Spring Valley project and the company's 100% interest in the Ruby Hill mine to subsidiaries of Waterton Precious Metals Fund II Cayman, LP for $110 million in cash.
Barrick announced asset sales, joint ventures and partnerships worth $3.2 billion since the start of 2015. According to the company, as a result of the non-core asset sales it executed during 2015, its portfolio is now much more focused on core mines that generate free cash flow through the metal price cycle.
Barrick Gold produces and sells gold and copper. It is also involved in exploration and mine development activities
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