10/14/99 Wall Street Journal: Barrick Gold Corp. said third-quarter net income rose 3.9%, to $79 million from $76 million, reflecting increased gold production. Per-share earnings were flat, at 20 cents, as the gold mining company had more shares outstanding in the latest quarter. Revenue rose 1.2%, to $331 million from $327 million a year earlier.

Any thoughts?

-- peter (peter@frontiernet.net), October 14, 1999

Answers

The third quarter report is after the fact. A Barrick conference call this morning has them skirting and obfuscating questions related to their hedging operations. Essentially they have sold forward 4 yrs. production for an average price that makes them now look exceptionally stupid to any analyst willing to nominally scratch the surface....not even factoring in Y2K.

ABX = a good short sell or dump IMO.

-- Charles R. (chuck_roast@trans.net), October 14, 1999.