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Gold News: Barrick Gold Corporation (USA) (ABX) Sells Mines, Goldcorp Inc. (USA) (GG) Agreement with Lac Seul First Nation, Kinross Gold Corporation (USA) (KGC)’s Rating

Editor’s Note: Barrick Gold Corporation (USA) (NYSE:ABX), Goldcorp Inc. (USA) (NYSE:GG), Kinross Gold Corporation (USA) (NYSE:KGC)

Three Barrick Gold Corporation (NYSE:ABX) mines moving to Gold Fields’ side of fence (GDP Insider)
Barrick Gold Corporation (USA) (NYSE:ABX) announced that it will be selling-off 3 of its mines located in the Australia, to Gold Fields Ltd. The South Africa based miner will be buying these mines called the Yilgarn South Assets, for $300M. This sale will be subject to all the customary condition and the Australian Foreign Investment Review Board approval will be necessary.

Barrick Gold Corporation (USA) (NYSE:ABX)

Goldcorp, Lac Seul sign collaboration agreement (Northern Business)
Goldcorp Inc. (USA) (NYSE:GG) and Lac Seul First Nation (Obishikokaang) have signed a collaboration agreement surrounding operations at Red Lake Gold Mines. The Obishikokaang Collaboration Agreement sets out a framework for continued consultation and support for current and future operations of the mine and defining the long-term benefits for the First Nation. A signing ceremony was held Friday, August 16, in the Municipality of Red Lake.

Kinross Gold Corp Receives “Neutral” Rating from Zacks (KGC) (Mideast Times)
Kinross Gold Corporation (USA) (NYSE:KGC)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Monday, Stock Ratings Network reports. They currently have a $6.25 price objective on the stock. Zacks‘ target price would suggest a potential upside of 7.02% from the stock’s previous close. Kinross Gold traded up 0.17% on Monday, hitting $5.85. 6,753,393 shares of the company’s stock traded hands. Kinross Gold Corporation (USA) (NYSE:KGC) has a 1-year low of $4.53 and a 1-year high of $11.20. The stock has a 50-day moving average of $5.26 and a 200-day moving average of $6.21. The company’s market cap is $6.684 billion.

Cash Dividend On The Way From Barrick Gold (ABX) (Forbes)
Looking at the universe of stocks we cover at Dividend Channel, on 8/28/13, Barrick Gold Corporation (USA) (NYSE:ABX) will trade ex-dividend, for its quarterly dividend of $0.05, payable on 9/16/13. As a percentage of ABX’s recent stock price of $20.23, this dividend works out to approximately 0.25%. In general, dividends are not always predictable; but looking at the history above can help in judging whether the most recent dividend from Barrick Gold Corporation (USA) (NYSE:ABX) is likely to continue, and whether the current estimated yield of 0.99% on annualized basis is a reasonable expectation of annual yield going forward.

The Smart Money Is Bailing On Goldcorp Inc. (USA) (GG) (Insider Monkey)
The smart money is bailing on Goldcorp Inc. (USA) (NYSE:GG). To the average investor, there are plenty of indicators shareholders can use to monitor Mr. Market. A couple of the most underrated are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite money managers can trounce the broader indices by a solid margin (see just how much).

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