Barrick Gold Corp (ABX) Given a $15.00 Price Target by Berenberg Bank Analysts
Barrick Gold Corp (NYSE:ABX) (TSE:ABX) has been given a $15.00 target price by research analysts at Berenberg Bank in a research report issued on Saturday. The firm currently has a “sell” rating on the basic materials company’s stock. Berenberg Bank’s price target would suggest a potential downside of 8.42% from the stock’s previous close.
A number of other research firms have also recently commented on ABX. Clarkson Capital cut Barrick Gold Corp from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 15th. TheStreet upgraded Barrick Gold Corp from a “c” rating to a “b-” rating in a research note on Thursday, February 23rd. Jefferies Group LLC increased their price target on Barrick Gold Corp from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Vetr cut Barrick Gold Corp from a “hold” rating to a “sell” rating and set a $18.55 price target for the company. in a research note on Monday, February 27th. Finally, Zacks Investment Research cut Barrick Gold Corp from a “hold” rating to a “sell” rating in a research note on Monday, February 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $22.95.
Shares of Barrick Gold Corp (NYSE:ABX) opened at 16.38 on Friday. The company has a market capitalization of $19.10 billion, a P/E ratio of 13.54 and a beta of -0.24. The company has a 50-day moving average price of $17.55 and a 200 day moving average price of $17.38. Barrick Gold Corp has a 12-month low of $13.81 and a 12-month high of $23.47.
Barrick Gold Corp (NYSE:ABX) last released its quarterly earnings results on Monday, April 24th. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by $0.07. Barrick Gold Corp had a negative net margin of 28.22% and a positive return on equity of 6.81%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter last year, the business posted $0.11 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Barrick Gold Corp will post $0.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, May 26th. Barrick Gold Corp’s dividend payout ratio (DPR) is -3.90%.
A number of hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC raised its stake in Barrick Gold Corp by 275.8% in the first quarter. Quadrant Capital Group LLC now owns 5,592 shares of the basic materials company’s stock valued at $104,000 after buying an additional 4,104 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Barrick Gold Corp by 9.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 5,608 shares of the basic materials company’s stock valued at $106,000 after buying an additional 506 shares during the period. FNY Managed Accounts LLC bought a new stake in Barrick Gold Corp during the first quarter valued at approximately $116,000. 1832 Asset Management L.P. raised its stake in Barrick Gold Corp by 11.4% in the third quarter. 1832 Asset Management L.P. now owns 7,822 shares of the basic materials company’s stock valued at $139,000 after buying an additional 802 shares during the period. Finally, Gemmer Asset Management LLC bought a new stake in Barrick Gold Corp during the first quarter valued at approximately $155,000. 58.61% of the stock is currently owned by hedge funds and other institutional investors.
About Barrick Gold Corp
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.
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