Barrick Gold Corporation’s (ABX) Hold Rating Reiterated at Barclays PLC
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX)‘s stock had its “hold” rating reaffirmed by equities research analysts at Barclays PLC in a research report issued to clients and investors on Wednesday. They presently have a $20.00 target price on the stock. Barclays PLC’s price target would suggest a potential upside of 19.05% from the stock’s previous close.
Several other equities analysts have also recently issued reports on ABX. Zacks Investment Research upgraded Barrick Gold Corporation from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, September 28th. Deutsche Bank AG upgraded Barrick Gold Corporation from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Monday, October 3rd. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $27.00 price objective on shares of Barrick Gold Corporation in a research note on Wednesday, October 5th. Citigroup Inc. restated a “buy” rating on shares of Barrick Gold Corporation in a research note on Monday, October 17th. Finally, RBC Capital Markets restated a “sector perform” rating on shares of Barrick Gold Corporation in a research note on Wednesday, October 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.42.
Shares of Barrick Gold Corporation (NYSE:ABX) traded down 0.71% during trading on Wednesday, reaching $16.68. 22,503,309 shares of the company’s stock traded hands. The company’s market capitalization is $19.44 billion. The company has a 50 day moving average of $15.41 and a 200-day moving average of $17.96. Barrick Gold Corporation has a 1-year low of $7.39 and a 1-year high of $23.47.
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Barrick Gold Corporation (NYSE:ABX) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Barrick Gold Corporation had a positive return on equity of 6.81% and a negative net margin of 28.22%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts predict that Barrick Gold Corporation will post $0.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, November 28th. This represents a $0.08 dividend on an annualized basis and a yield of 0.48%. Barrick Gold Corporation’s payout ratio is presently -3.90%.
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A number of large investors have recently made changes to their positions in the company. First Trust Advisors LP acquired a new stake in shares of Barrick Gold Corporation during the second quarter worth approximately $531,000. Reilly Herbert Faulkner III acquired a new stake in shares of Barrick Gold Corporation during the second quarter worth approximately $6,151,000. 10 15 Associates Inc. raised its stake in shares of Barrick Gold Corporation by 4.0% in the second quarter. 10 15 Associates Inc. now owns 172,382 shares of the company’s stock worth $3,680,000 after buying an additional 6,607 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Barrick Gold Corporation by 13.9% in the second quarter. CIBC Asset Management Inc now owns 8,679,985 shares of the company’s stock worth $184,395,000 after buying an additional 1,059,555 shares during the last quarter. Finally, Welch & Forbes LLC raised its stake in shares of Barrick Gold Corporation by 2.2% in the second quarter. Welch & Forbes LLC now owns 61,359 shares of the company’s stock worth $1,311,000 after buying an additional 1,334 shares during the last quarter. Hedge funds and other institutional investors own 58.22% of the company’s stock.
Barrick Gold Corporation 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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