On Tuesday, Shares of Barrick Gold Corporation (USA)(NYSE:ABX), subtract -0.39% and closed at $15.52 in the last trading session. The last trading range of the stock ranges between $15.42 and $15.89. The company’s Market capitalization is $18.08 Billion with the total Outstanding Shares of 1.17 billion. During the 52-week trading session the minimum price at which share price traded, registered at $6.90 and reached to max level of $23.47. Barrick Gold Corporation (ABX.TO)(ABX.TO) (Barrick or the “company”) recently declared the resumption of normal operations at the Veladero mine in Argentina following approval from San Juan provincial authorities.
Operations at the mine were suspended on September 15, a week after falling ice damaged a pipe carrying process solution in the leach pad area, causing some material to leave the leach pad. This material, mainly crushed ore saturated with process solution, was contained on the mine site and returned to the leach pad. Extensive water monitoring in the area has confirmed the incident did not result in any environmental impacts. The company has accomplished a series of remedial works required by provincial authorities designed to prevent such an incident from reoccurring, counting increasing the height of the perimeter berms that surround the leach pad.
As normal operations resume, the company will continue to assess the impact of the temporary suspension on Veladero’s production for 2016. However, Barrick continues to expect total gold production for 2016 in the range of 5.0-5.5 million ounces at a cost of sales applicable to gold of $5.2-$5.5 billion and all-in sustaining costs1 of $750-$790 per ounce.2
Fifth Third Bancorp (NASDAQ:FITB), dropped -1.40% and closed at $20.39 in the last trading session. The last trading range of the stock ranges between $20.24 and $20.76. During the 52-week trading session the minimum price at which share price traded, registered at $13.84 and reached to max level of $21.14. For shareholders, weathering the rhetoric of Election 2016 is critical. According to experts at Fifth Third Bank (FITB), by maintaining a steadfast focus on fundamental investment aims and strategies, shareholders can make it through the kind of market fluctuations and uncertainty elections can often create.
To assist ease shareholder uncertainty, Fifth Third Bank convened a roundtable of financial experts – Nicole Lapin, veteran financial reporter and author; Joe Gagnon, an economist at the Peterson Institute; Fifth Third Private Bank’s Melissa Register, senior wealth planner; and Jeff Korzenik, Chief Investment Strategist at Fifth Third Bank – to provide historical perspective on how different asset classes and markets respond to changes in both the executive and legislative branches.
“Historically, elections are periods of uncertainty. Markets hate uncertainty. They discount valuations in the face of uncertainty. But those discounts go away when the uncertainty passes,” said Korzenik. “In other words, ‘Keep calm and invest on.'”