Barrick Gold Corp Rating Lowered to Sell at Canaccord Genuity (ABX)
Barrick Gold Corp (NYSE:ABX) was downgraded by investment analysts at Canaccord Genuity from a “hold” rating to a “sell” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cormark downgraded shares of Barrick Gold Corp from a “market perform” rating to a “reduce” rating in a research note to investors on Friday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Barrick Gold Corp in a research note to investors on Thursday, December 19th. They now have a $18.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Barrick Gold Corp in a research note to investors on Tuesday, November 26th. They now have a $20.80 price target on the stock, up previously from $18.00. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have given a buy rating to the stock. Barrick Gold Corp currently has an average rating of “Hold” and an average price target of $20.84.
Barrick Gold Corp (NYSE:ABX) traded down 0.06% on Monday, hitting $18.17. The stock had a trading volume of 13,295,214 shares. Barrick Gold Corp has a one year low of $13.43 and a one year high of $35.06. The stock’s 50-day moving average is $16. and its 200-day moving average is $17.64. The company’s market cap is $18.191 billion. Barrick Gold Corp also was the target of unusually large options trading activity on Friday. Stock traders purchased 37,920 call options on the stock. This is an increase of 109% compared to the typical daily volume of 18,143 call options.
Barrick Gold Corp (NYSE:ABX) last released its 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 $2.56 EPS for the current fiscal year.
Barrick Gold Corporation (NYSE:ABX) is engaged in the production and sale of gold, as well as related activities.
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