BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Barrick Gold Corporation (“Barrick” or the “Company”) (NYSE: ABX) investors concerning the Company and its officers’ possible violations of federal securities laws.
On April 24, 2017, the Company revised its full year guidance, stating that “[f]ull-year gold production is now expected to be 5.3-5.6 million ounces, down from our previous range of 5.6-5.9 million ounces.” The Company attributed approximately two-thirds of the reduction to the planned sale of 50% percent of its Veladero mine. Barrick also revised Veladero-specific guidance, projecting full-year production at Veladero of 630,000-730,000 ounces, compared to the Company’s previously-issued guidance of 770,000-830,000 ounces.
On this news, the Company’s share price fell $2.15, or 11.3%, to close at $16.89 per share on April 25, 2017, thereby injuring investors.
If you purchased Barrick securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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