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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Barrick Gold Corp    ABX   CA0679011084

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TSX gains as bank stock gains, Valeant jumps

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06/08/2017 | 11:20pm CEST
The Bay Street sign is pictured in the heart of the financial district as people walk by in Toronto

Canada's main stock index gained on Thursday, helped by rises for some of the country's biggest banking stocks and a sharp jump in Valeant Pharmaceuticals but weighed down by losses for gold miners.

The financials group climbed 1 percent after the Bank of Canada said the recent liquidity strain at Home Capital Group Inc (>> Home Capital Group Inc) was specific to that company and that the broader alternative lending system works.

"I think people took some confidence from the comments suggesting the central bank sees Home Capital as an isolated occurrence and still considers the underlying financial system to be fairly robust," said Colin Cieszynski, senior market analyst at CMC Markets Canada.

Bank of Nova Scotia (>> Bank of Nova Scotia) rose 1.6 percent to C$77.85 and Toronto-Dominion Bank (>> Toronto-Dominion Bank) added 1.2 percent to C$65.06.

Valeant Pharmaceuticals International Inc (>> Valeant Pharmaceuticals Intl Inc) also added to the positive sentiment, jumping 9.4 percent to C$17.96 after saying it would sell its iNova Pharmaceuticals business for $930 million as part of a debt reduction plan.

The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> closed up 50.95 points, or 0.33 percent, at 15,423.09.

Six of its 10 main sectors slipped, although advancers outnumbered declining stocks by a ratio of 1.3 to 1.

Gold miners were among the heaviest weights, falling as investors assessed former FBI Director James Comey's testimony as containing no significant surprises.

Gold futures <GCc1> fell 1.0 percent to $1,277.1 an ounce, while Barrick Gold Corp (>> Barrick Gold Corp) fell 1.5 percent to C$22.45 and Goldcorp (>> Goldcorp Inc.) lost 2 percent to C$18.48. [GOL/]

Eldorado Gold Corp (>> Eldorado Gold Corp) slumped 9.4 percent to C$3.85 after Greece said it would take the miner to arbitration over a gold mining investment.

Base metals miners jumped as copper prices <CMCU3> advanced 2.2 percent to $5,746.50 a tonne after better-than-expected Chinese economic data allayed some concerns about oversupply. [MET/L]

First Quantum Minerals Ltd (>> First Quantum Minerals Limited) jumped 7.7 percent to C$11.75.

"It tends to have some big swings off commodity prices, that's not unheard of for them," Cieszynski said.

Teck Resources Ltd (>> Teck Resources Ltd) gained 3.6 percent to C$24.50, while Hudbay Minerals (>> Hudbay Minerals Inc) jumped 10.9 percent to C$7.40 after receiving a permit to move forward with a copper project in Arizona.

ECN Capital Corp (>> ECN Capital Corp) ended up 3 percent at C$3.76 after the commercial financing company said it would buy U.S.-based Service Finance Holdings LLC for C$410 million ($304 million) in cash.

(Reporting by Alastair Sharp; Editing by Dan Grebler and James Dalgleish)

By Alastair Sharp

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Financials ($)
Sales 2017 8 603 M
EBIT 2017 3 043 M
Net income 2017 1 785 M
Debt 2017 4 637 M
Yield 2017 0,72%
P/E ratio 2017 10,30
P/E ratio 2018 21,79
EV / Sales 2017 2,71x
EV / Sales 2018 2,67x
Capitalization 18 680 M
Duration : Period :
Barrick Gold Corp Technical Analysis Chart | ABX | CA0679011084 | 4-Traders
Technical analysis trends BARRICK GOLD CORP
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 20,1 $
Spread / Average Target 26%
EPS Revisions
Kelvin Dushnisky President & Non-Independent Director
John Lawson Thornton Non-Independent Executive Chairman
Richard J. Williams Chief Operating Officer
Catherine Phillipa Raw Chief Financial Officer & Executive Vice President
Matthew D. Gili Chief Technical Officer
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