Barrick's transformation continues, as it grows free cash flow and reduces leverage.
At its December meeting, the Federal Reserve raised the federal funds target rate 25 basis points, to 0.50%-0.75%. In addition, the central bank cited improving economic conditions that could support an additional 75 basis points of rate increases in 2017. While the December rate hike was largely expected by the market, the additional three increases next year appear to have come as somewhat of a surprise, as gold prices fell roughly $20 per ounce to roughly $1,140. We expect gold to fall to $1,...Barrick Gold is engaged in the production and sale of gold, as well as related activities such as exploration and mine development. Co. also produces copper and hold interests in oil and gas properties located in Canada. Co.'s mining operations are concentrated in three regional business units: North America, South America and Australia Pacific. Co. also hold a 73.9% equity interest in African Barrick Gold plc that owns gold mines and exploration properties in Africa. Co.'s copper business unit contains producing copper mines located in Chile and Zambia; and a mine under construction located in Saudi Arabia.
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