Barrick Surges After Stepping Up Measures to Counter Gold Rout
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Barrick Gold Corp. rebounded from a record monthly decline after intensifying efforts to strengthen its balance sheet as slumping prices squeeze margins.
The world’s largest producer of the metal jumped as much as 8.1 percent in Toronto before closing up 3.8 percent. The stock tumbled 35 percent in the previous month as gold slumped to five-year lows. It was the company’s steepest four-week drop since at least 1986 when Bloomberg records begin.