Tom Ricciardi - Seeking Alpha © seekingalpha.com. Use of this feed is limited to personal, non-commercial use and is governed by Seeking Alpha's Terms of Use (http://seekingalpha.com/page/terms-of-use). Publishing this feed for public or commercial use and/or misrepresentation by a third party is prohibited. SeekingAlpha.com http://seekingalpha.com/author/tom-ricciardi Barrick's Management May Be Bigger Disappointment Than Q2 Earnings http://seekingalpha.com/article/765521-barrick-s-management-may-be-bigger-disappointment-than-q2-earnings?source=feed 765521 Mr. Jamie C. Sokalsky, Barrick Gold's (ABX) new CEO, did his first earnings call on July 26, 2012, and it was a failure in terms of inspiring confidence and a vision of leadership among institutional and other investors as well as the media. Here's why.

Barrick's stock has lost $23 billion of market cap since September 8, 2011. Even more compelling is ABX's loss in value more recently as compared to GLD since April 21, 2012 when ABX was trading at $55.63 and GLD was trading at $146.74. Furthermore, on July 30, 2012 at 12:14PM GLD was trading at $157.16, yet ABX was trading at $32.95. This represents a substantial lack of correlation between GLD and ABX as well as an illustration of despair in comparing ABX to other key industry miners. While we recognize that there has been a general trend of miners to trade lower than the

]]> Tue, 31 Jul 2012 13:23:50 -0400 Tom Ricciardi By Tom Ricciardi:

Mr. Jamie C. Sokalsky, Barrick Gold's (ABX) new CEO, did his first earnings call on July 26, 2012, and it was a failure in terms of inspiring confidence and a vision of leadership among institutional and other investors as well as the media. Here's why.

Barrick's stock has lost $23 billion of market cap since September 8, 2011. Even more compelling is ABX's loss in value more recently as compared to GLD since April 21, 2012 when ABX was trading at $55.63 and GLD was trading at $146.74. Furthermore, on July 30, 2012 at 12:14PM GLD was trading at $157.16, yet ABX was trading at $32.95. This represents a substantial lack of correlation between GLD and ABX as well as an illustration of despair in comparing ABX to other key industry miners. While we recognize that there has been a general trend of miners to trade lower than the


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