Barrick Gold Corporation (NYSE:ABX) Stock Rating Lowered by BMO Capital Markets
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) was downgraded by research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, Marketbeat reports. They presently have a $18.00 price target on the basic materials company’s stock, down from their prior price target of $21.00. BMO Capital Markets’ target price would indicate a potential upside of 17.26% from the stock’s current price.
A number of other brokerages have also recently commented on ABX. Jefferies Group LLC raised their price target on Barrick Gold Corporation from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Vetr cut Barrick Gold Corporation from a “strong-buy” rating to a “buy” rating and set a $21.75 price target on the stock. in a research report on Monday, April 10th. Scotiabank restated a “sector perform” rating and issued a $22.50 price target on shares of Barrick Gold Corporation in a research report on Tuesday, April 25th. TD Securities restated a “hold” rating and issued a $20.00 price target on shares of Barrick Gold Corporation in a research report on Tuesday, April 25th. Finally, Royal Bank Of Canada upgraded Barrick Gold Corporation from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $19.00 to $23.00 in a research report on Thursday, March 16th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Barrick Gold Corporation presently has a consensus rating of “Hold” and a consensus target price of $22.21.
Shares of Barrick Gold Corporation (NYSE:ABX) opened at 15.35 on Thursday. Barrick Gold Corporation has a one year low of $13.81 and a one year high of $23.47. The stock has a market cap of $17.89 billion, a P/E ratio of 12.69 and a beta of -0.25. The firm has a 50 day moving average of $16.37 and a 200 day moving average of $17.50.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings results on Monday, April 24th. The basic materials company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.07. Barrick Gold Corporation had a return on equity of 8.34% and a net margin of 16.44%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the business posted $0.11 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Barrick Gold Corporation will post $0.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Friday, May 26th. Barrick Gold Corporation’s dividend payout ratio is currently 9.92%.
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Several institutional investors have recently bought and sold shares of the company. Comerica Bank raised its position in Barrick Gold Corporation by 7.2% in the fourth quarter. Comerica Bank now owns 138,534 shares of the basic materials company’s stock worth $2,337,000 after buying an additional 9,361 shares in the last quarter. State Street Corp increased its stake in shares of Barrick Gold Corporation by 10.7% in the fourth quarter. State Street Corp now owns 826,813 shares of the basic materials company’s stock worth $13,212,000 after buying an additional 80,077 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Barrick Gold Corporation during the fourth quarter worth $217,000. United Capital Financial Advisers LLC increased its stake in shares of Barrick Gold Corporation by 10.9% in the fourth quarter. United Capital Financial Advisers LLC now owns 16,240 shares of the basic materials company’s stock worth $260,000 after buying an additional 1,593 shares during the last quarter. Finally, Paradigm Financial Advisors LLC increased its stake in shares of Barrick Gold Corporation by 6.3% in the first quarter. Paradigm Financial Advisors LLC now owns 29,373 shares of the basic materials company’s stock worth $557,000 after buying an additional 1,735 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.
About Barrick Gold Corporation
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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