Barrick Gold Corp. (ABX) Receives “Buy” Rating from Citigroup Inc.
Barrick Gold Corp. (NYSE:ABX)‘s stock had its “buy” rating reaffirmed by equities researchers at Citigroup Inc. in a note issued to investors on Monday.
Several other research firms have also weighed in on ABX. Zacks Investment Research upgraded shares of Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, July 12th. Canaccord Genuity restated a “buy” rating and issued a $34.00 price objective on shares of Barrick Gold Corp. in a report on Wednesday, August 10th. TD Securities restated a “buy” rating and issued a $26.00 price objective on shares of Barrick Gold Corp. in a report on Saturday, August 13th. Vetr lowered shares of Barrick Gold Corp. from a “strong-buy” rating to a “buy” rating and set a $23.79 price objective on the stock. in a report on Tuesday, August 9th. Finally, Argus restated a “buy” rating and issued a $26.00 price objective (up from $23.00) on shares of Barrick Gold Corp. in a report on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Barrick Gold Corp. presently has an average rating of “Buy” and a consensus target price of $21.19.
Shares of Barrick Gold Corp. (NYSE:ABX) traded up 1.34% during trading on Monday, reaching $15.90. 7,445,996 shares of the company traded hands. The company’s market capitalization is $18.53 billion. The firm’s 50 day moving average price is $17.31 and its 200-day moving average price is $18.56. Barrick Gold Corp. has a 52 week low of $6.90 and a 52 week high of $23.47.
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Barrick Gold Corp. (NYSE:ABX) last posted its earnings results on Wednesday, July 27th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.01. The firm earned $2.01 billion during the quarter, compared to analyst estimates of $2.02 billion. Barrick Gold Corp. had a negative net margin of 33.33% and a positive return on equity of 4.95%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Equities analysts anticipate that Barrick Gold Corp. will post $0.69 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the company. First New York Securities LLC NY acquired a new stake in shares of Barrick Gold Corp. during the second quarter worth $117,000. Dubuque Bank & Trust Co. acquired a new stake in shares of Barrick Gold Corp. during the second quarter worth $141,000. Gemmer Asset Management LLC boosted its stake in shares of Barrick Gold Corp. by 3,974.0% in the third quarter. Gemmer Asset Management LLC now owns 8,148 shares of the company’s stock worth $144,000 after buying an additional 7,948 shares in the last quarter. CENTRAL TRUST Co boosted its stake in shares of Barrick Gold Corp. by 5.3% in the second quarter. CENTRAL TRUST Co now owns 7,786 shares of the company’s stock worth $166,000 after buying an additional 392 shares in the last quarter. Finally, Fruth Investment Management acquired a new stake in shares of Barrick Gold Corp. during the second quarter worth $210,000. Hedge funds and other institutional investors own 60.13% of the company’s stock.
About Barrick Gold Corp.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. The Company produces copper, principally from its Zaldivar joint venture and Lumwana mine, and holds other interests. Barricks’ segments include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Porgera, Kalgoorlie, Acacia Mining plc, Lumwana, Zaldivar and Pascua-Lama Project.
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