Barrick Gold Corporation (ABX) Receives Outperform Rating from Royal Bank Of Canada
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank Of Canada in a research note issued on Friday.
Several other equities research analysts have also issued reports on the stock. Scotiabank restated a “sector perform” rating and issued a $22.50 target price on shares of Barrick Gold Corporation in a report on Tuesday, April 25th. BidaskClub lowered shares of Barrick Gold Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Deutsche Bank AG reiterated a “buy” rating and set a $21.00 price objective (down previously from $22.00) on shares of Barrick Gold Corporation in a report on Sunday, June 25th. Berenberg Bank set a $15.00 price objective on shares of Barrick Gold Corporation and gave the company a “sell” rating in a report on Saturday, May 27th. Finally, BMO Capital Markets lowered shares of Barrick Gold Corporation from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $21.00 to $18.00 in a report on Thursday, July 6th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $20.59.
Barrick Gold Corporation (ABX) traded down 1.25% during mid-day trading on Friday, hitting $16.64. 13,798,715 shares of the stock were exchanged. The stock has a market capitalization of $19.40 billion, a PE ratio of 8.24 and a beta of -0.23. Barrick Gold Corporation has a 52 week low of $13.81 and a 52 week high of $20.78. The company has a 50-day moving average of $16.35 and a 200-day moving average of $17.51.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last released its earnings results on Wednesday, July 26th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.05. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.03 billion. Barrick Gold Corporation had a net margin of 26.95% and a return on equity of 8.91%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the business earned $0.14 EPS. On average, equities analysts predict that Barrick Gold Corporation will post $0.73 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in ABX. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Barrick Gold Corporation 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 last quarter. FNY Managed Accounts LLC acquired a new stake in shares of Barrick Gold Corporation during the first quarter valued at approximately $116,000. Advisors Asset Management Inc. boosted its stake in shares of Barrick Gold Corporation by 116.4% in the second quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock valued at $105,000 after buying an additional 3,543 shares during the last quarter. Capital Innovations LLC acquired a new stake in shares of Barrick Gold Corporation during the first quarter valued at approximately $253,000. Finally, FNY Partners Fund LP acquired a new stake in shares of Barrick Gold Corporation during the second quarter valued at approximately $159,000. Institutional investors and hedge funds own 58.68% of the company’s stock.
Barrick Gold Corporation Company Profile
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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