Barrick Gold Corp (ABX)

[JohnCM]

Oh boo hoo. Stock fell $2.15. Are they crazy?

The complaints further allege that on March 28, 2017, a pipe at the Veladero mine ruptured, but that "[s]urprisingly. . . the Company reaffirmed its fiscal year guidance" and stated "[a]t this time, we do not anticipate a material impact to Veladero's 2017 production guidance."

On April 24, 2017, however, the Company issued a press release announcing a revision to its guidance, stating: "we now expect full-year production at Veladero of 630,000-730,000 ounces of gold, at a cost of sales of $740-$790 per ounce, and all-in sustaining costs of $890-$990 per ounce. . . . This compares to our original 2017 guidance of 770,000-830,000 ounces (100 percent basis), at a cost of sales of $750-$800 per ounce, and all-in sustaining costs of $840-$940 per ounce."

Following the April 24, 2017 news, Barrick's share price fell $2.15 per share, or 11.3%, to close at $16.89 per share on April 25, 2017.