FY2016 EPS Estimates for Barrick Gold Corp. Decreased by Analyst (ABX)
Barrick Gold Corp. (NYSE:ABX) – Equities research analysts at Jefferies Group reduced their FY2016 earnings per share estimates for shares of Barrick Gold Corp. in a report issued on Friday. Jefferies Group analyst C. Lafemina now forecasts that the brokerage will post earnings of $0.53 per share for the year, down from their previous estimate of $0.62. Jefferies Group currently has a “Buy” rating and a $26.00 price target on the stock.
Barrick Gold Corp. (NYSE:ABX) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. The firm earned $2.01 billion during the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS.
A number of other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Friday. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $27.00 price objective on shares of Barrick Gold Corp. in a report on Wednesday, October 5th. Deutsche Bank AG upgraded shares of Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Monday, October 3rd. Berenberg Bank assumed coverage on shares of Barrick Gold Corp. in a report on Wednesday, September 7th. They issued a “sell” rating and a $15.20 price objective for the company. Finally, RBC Capital Markets reiterated a “sector perform” rating on shares of Barrick Gold Corp. in a report on Sunday, September 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $21.19.
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Shares of Barrick Gold Corp. (NYSE:ABX) opened at 15.69 on Monday. Barrick Gold Corp. has a one year low of $6.90 and a one year high of $23.47. The stock’s market cap is $18.28 billion. The company has a 50 day moving average price of $17.31 and a 200-day moving average price of $18.56.
Institutional investors have recently modified their holdings of the stock. Ngam Advisors L.P. acquired a new position in shares of Barrick Gold Corp. during the first quarter valued at approximately $481,000. TIAA CREF Investment Management LLC purchased a new stake in Barrick Gold Corp. during the first quarter valued at about $6,380,000. Teachers Advisors Inc. purchased a new stake in Barrick Gold Corp. during the first quarter valued at about $9,869,000. BlackRock Japan Co. Ltd purchased a new stake in Barrick Gold Corp. during the first quarter valued at about $6,756,000. Finally, NN Investment Partners Holdings N.V. purchased a new stake in Barrick Gold Corp. during the first quarter valued at about $477,000. 60.13% of the stock is owned by institutional investors.
Barrick Gold Corp. Company Profile
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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