Gold stock to sell #1: Barrick Gold (ABX) - Jamie Dlugosch

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Gold stock to sell #1: Barrick Gold (ABX)
Sep 12, 2009 04:00 PM UTC

Jamie Dlugosch

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Via BloggingStocks:

Filed under: Barrick Gold (ABX), Stocks to Sell

Barrick Gold Corp. (NYSE: ABX) announced that it would begin eliminating its hedges against a collapse in gold prices.

In so doing, the company is raising some $3 billion with the sale of stock that will dilute current shareholders.

While the gold hedges may have acted as a brake on revenues and profits in a rising gold price environment, the strategy was prudent.

Continue reading Gold stock to sell #1: Barrick Gold (ABX)

Gold stock to sell #1: Barrick Gold (ABX) originally appeared on BloggingStocks on Sat, 12 Sep 2009 11:00:00 EST. Please see our terms for use of feeds.

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