Two Fish: Barrick breakup along geographic lines could boost stock

|About: Barrick Gold Corporation (ABX)|By:, SA News Editor

More big talk from little Two Fish, as the hedge fund fleshes out a call for a breakup of Barrick Gold (ABX -3.2%) which it believes could send shares to $40-$50 after losing half their value in the past year (earlier).

Two Fish co-founder Mike Morris says splitting off the North American and South American businesses from those in Africa and Australia would allow management to focus on the unique needs of each.

Morris says ABX should return more cash to shareholders rather than spending it on acquisitions, sell non-core assets and appoint new board members; ABX says its compensation practices and potential board additions already are under review, and it has been cutting costs.