Barrick Gold Receives Average Rating of “Hold” from Brokerages (NYSE:ABX)
Shares of Barrick Gold (NYSE:ABX) have received a consensus rating of “Hold” from the twenty brokerages that are covering the stock, StockRatingsNetwork reports. Four investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $21.03.
ABX has been the subject of a number of recent research reports. 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.
Barrick Gold (NYSE:ABX) traded up 1.06% on Friday, hitting $17.20. The stock had a trading volume of 1,425,331 shares. Barrick Gold has a 1-year low of $15.26 and a 1-year high of $21.45. The stock’s 50-day moving average is $18.5 and its 200-day moving average is $18.28. The company’s market cap is $20.032 billion. Barrick Gold also saw some unusual options trading activity on Wednesday. Traders purchased 18,954 call options on the company. This represents an increase of approximately 127% compared to the typical daily volume of 8,346 call options.
Barrick Gold (NYSE:ABX) last released its earnings data 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. On average, analysts predict that Barrick Gold will post $0.76 earnings per share 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 1.18%. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.