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NOV 01, 2013 - TheStreet

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Why Barrick Gold Corp (ABX) Lost Over 10% This Week

NEW YORK (TheStreet) -- Barrick Gold Corp  tumbled 11% this week following a mix of news that heightened concern about the company's current operations. On Friday alone, the stock plunged 7.6% to $17.92. The gold and copper producer announced plans of a bought-deal offering of 163.5 million shares at $18.35 each on Thursday. Of the $3 billion in capital expected to be raised, the company will use around $2.6 billion to strengthen its balance sheet and pay down outstanding debt. The Canadian industrial also reported third-quarter earnings of 58 cents a share on $2.99 billion ... Read More

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