Investors Buy Large Volume of Barrick Gold Call Options (ABX)
Shares of Barrick Gold (NYSE:ABX) were the target of unusually large options trading on Wednesday. Investors acquired 18,954 call options on the stock, Stock Ratings Network.com reports. This represents an increase of 127% compared to the average daily volume of 8,346 call options.
A number of research firms have recently commented on ABX. Analysts at CIBC cut their price target on shares of Barrick Gold from $23.00 to $22.00 in a research note on Friday, August 8th. Separately, analysts at Goldman Sachs reiterated a “conviction-buy” rating on shares of Barrick Gold in a research note on Friday, August 8th. They now have a $18.49 price target on the stock, down previously from $22.00. Finally, analysts at RBC Capital raised their price target on shares of Barrick Gold from $23.00 to $25.00 in a research note on Thursday, August 7th. They now have an “outperform” rating on the stock. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $21.03.
Barrick Gold (NYSE:ABX) traded down 0.62% during mid-day trading on Wednesday, hitting $17.75. The stock had a trading volume of 5,056,506 shares. Barrick Gold has a one year low of $15.26 and a one year high of $21.45. The stock has a 50-day moving average of $18.5 and a 200-day moving average of $18.2. The company’s market cap is $20.673 billion.
Barrick Gold (NYSE:ABX) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was down 24.0% on a year-over-year basis. Analysts expect that Barrick Gold will post $0.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders 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 1.13%. The ex-dividend date of this dividend is Wednesday, August 27th.
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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