Barclays Reiterates “Equal Weight” Rating for Barrick Gold (ABX)
Barrick Gold (NYSE:ABX)‘s stock had its “equal weight” rating reiterated by investment analysts at Barclays in a note issued to investors on Friday. They currently have a $21.00 price objective on the stock, down from their previous price objective of $22.00. Barclays’ target price points to a potential upside of 16.15% from the stock’s previous close.
Barrick Gold (NYSE:ABX) traded up 0.72% on Friday, hitting $18.21. 3,666,206 shares of the company’s stock traded hands. Barrick Gold has a 52 week low of $15.26 and a 52 week high of $21.45. The stock has a 50-day moving average of $18.2 and a 200-day moving average of $18.38. The company’s market cap is $21.298 billion.
Barrick Gold (NYSE:ABX) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.28 by $0.14. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $133.95 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was down 24.0% on a year-over-year basis. Analysts expect that Barrick Gold will post $0.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, August 27th.
A number of other firms have also recently commented on ABX. Analysts at HSBC downgraded shares of Barrick Gold from a “neutral” rating to an “underweight” rating in a research note on Friday, July 25th. Separately, analysts at Credit Suisse raised their price target on shares of Barrick Gold from $21.00 to $22.00 in a research note on Thursday, July 17th. Finally, analysts at Raymond James raised their price target on shares of Barrick Gold from $18.50 to $19.50 in a research note on Monday, July 14th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Barrick Gold currently has a consensus rating of “Hold” and a consensus target price of $20.65.
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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