Barrick Gold Sees Significant Growth in Short Interest (ABX)
Barrick Gold (NYSE:ABX) saw a significant growth in short interest during the month of May. As of May 30th, there was short interest totalling 12,993,177 shares, a growth of 23.1% from the May 15th total of 10,551,583 shares, Stock Ratings News reports. Based on an average daily volume of 8,946,068 shares, the short-interest ratio is currently 1.5 days. Approximately 1.1% of the company’s stock are sold short.
A number of research firms have recently commented on ABX. Analysts at Zacks upgraded shares of Barrick Gold from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 18th. They now have a $18.00 price target on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Barrick Gold from $20.00 to $21.00 in a research note on Monday, May 5th. Finally, analysts at HSBC upgraded shares of Barrick Gold from an “underweight” rating to a “neutral” rating in a research note on Tuesday, April 29th. They now have a $18.00 price target on the stock, up previously from $17.00. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.22.
Barrick Gold (NYSE:ABX) opened at 17.82 on Monday. Barrick Gold has a 1-year low of $13.43 and a 1-year high of $21.45. The stock’s 50-day moving average is $16.7 and its 200-day moving average is $18.08. The company’s market cap is $20.754 billion.
Barrick Gold (NYSE:ABX) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was down 22.6% on a year-over-year basis. Analysts expect that Barrick Gold will post $0.76 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, such as exploration and mine development.
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