Kinross Gold (KGC) Up on Report Barrick Gold (ABX) Could Make an Imminent Bid

July 13, 2012 10:30 AM EDT
Kinross Gold Corporation (NYSE: KGC) is seeing upside action Friday on reports that the company could be a takeover target for larger rival Barrick Gold (NYSE: ABX). The Globe and Mail, citing an industry analyst, said a deal could be imminent.

Analyst Pawel Rajszel said in a report sent to clients in recent days that a deal between the companies could be imminent as Barrick, the world's largest gold company, tries to grow its massive production profile at a time when sizable new gold discoveries are increasingly hard to come by.

Link to Article

Shares of KGC are up 1.9 percent.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories


Add Your Comment