Latest Reports on Barrick Gold, Tourmaline Oil, Goldcorp, and Western Forest Products

NEW YORK, NY / ACCESSWIRE / August 31, 2016 / The S&P/TSX Composite Index rose by as much as 0.70 percent in early trading Tuesday before settling to close at 14,684.85, up 0.02 percent and up approximately 0.7 percent in the month of August. Major gains by Potash Corp. of Saskatchewan Inc. and Agrium Inc., who are amidst merger talks, were offset by declines by gold miners. The TSX materials sector was the biggest loser Tuesday with a decline of 1.99 per cent, as Barrick Gold Corp. and Goldcorp Inc. both fell over 4.7 percent.

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Barrick Gold Corp. (TSX: ABX)

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Barrick Gold’a shares fell 4.80 percent to close at C$22.81 a share Tuesday. The stock traded between C$22.62 and C$23.85 on volume of 3.70 million shares traded. The company announced that it has appointed Mark Hill as chief investment officer, effective September 12th, 2016. Consensus of analysts covering this stock has average rating as “Overweight” for the company. RBC Capital Markets analyst Stephen Walker currently has a “sector perform” rating on the stock with a price target of C$25.00. Shares of Barrick Gold have fallen gained approximately 122.7 percent year-to-date and are down roughly 20.0 percent in the past month.

Tourmaline Oil Corp. (TSX: TOU)

Get Your Up-To-Date Tourmaline Oil Research Report at www.rdinvesting.com/company/TOU.

Tourmaline Oil’s shares gained 3.06 percent to close at C$37.10 a share Tuesday. The stock traded between C$36.02 and C$37.14 on volume of 1.09 million shares traded. The company reported production averaged 190,820 barrels of oil equivalent per day for the first half of 2016, a 33-percent increase over the first half of 2015. According to Bloomberg, currently 11 analysts have “buy” ratings on the stock, while two analysts have “sell ratings”. Shares of Tourmaline Oil have gained approximately 66.0 percent year-to-date and are up roughly 10.9 percent in the past month.

Goldcorp Inc. (TSX: G)

Get Your Up-To-Date Goldcorp Research Report at www.rdinvesting.com/company/G.

Goldcorp’s shares fell 4.71 percent to close at C$20.25 a share Tuesday. The stock traded between C$20.09 and C$21.13 on volume of 3.42 million shares traded. Consensus of analyst covering this stock has “Overweight” rating on the company. On August 3rd, Citi analyst Alexander Hacking initiated coverage on Goldcorp with a “neutral” rating. The company reported gold production of 613,400 ounces at all-in sustaining costs (AISC) of $1,067 per ounce for the second quarter of 2016, compared to 908,000 ounces at AISC of $853 per ounce in 2015. Shares of Goldcorp have gained approximately 26.6 percent year-to-date, but have fallen roughly 13.2 percent in the past month.

Western Forest Products Inc. (TSE: WEF)

Get Your Up-To-Date Western Forest Products Research Report at www.rdinvesting.com/company/WEF.

Western Forest Products shares gained 1.44 percent to close at C$2.11 a share Tuesday. The stock traded between C$2.08 and C$2.11 on volume of 1.77 million shares traded. Western Forest Products announced that the chief forester of the Province of British Columbia has determined a new annual allowable cut for the company’s tree farm license 39 of 1,416,300 cubic metres. Shares of Western Forest Products have fallen approximately 6.6 percent year-to-date and are down roughly 1.4 percent in the past month.

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