Barrick Gold Corp Price Target Increased to $16.50 by Analysts at Mackie (ABX)
Investment analysts at Mackie raised their price objective on shares of Barrick Gold Corp (NYSE:ABX) from $15.00 to $16.50 in a note issued to investors on Friday, Analyst Ratings News reports. The firm currently has a “hold” rating on the stock. Mackie’s price objective suggests a potential downside of 8.38% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank cut their price target on shares of Barrick Gold Corp from $30.00 to $28.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Barrick Gold Corp in a research note to investors on Friday. They now have a $19.00 price target on the stock, up previously from $18.00. Finally, analysts at Canaccord Genuity initiated coverage on shares of Barrick Gold Corp in a research note to investors on Thursday, October 24th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.41.
Shares of Barrick Gold Corp (NYSE:ABX) opened at 18.01 on Friday. Barrick Gold Corp has a 52 week low of $13.43 and a 52 week high of $36.91. The stock’s 50-day moving average is $18.60 and its 200-day moving average is $18.38. The company’s market cap is $18.031 billion. Barrick Gold Corp also was the target of unusually large options trading on Wednesday. Investors purchased 51,459 call options on the stock. This represents an increase of approximately 156% compared to the typical daily volume of 20,062 call options.
Barrick Gold Corp (NYSE:ABX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.49 by $0.09. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. Analysts expect that Barrick Gold Corp will post $2.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 16th. Investors of record on Friday, November 29th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Wednesday, November 27th.
Barrick Gold Corporation (NYSE:ABX) is engaged in the production and sale of gold, as well as related activities.
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