Barrick Gold Corporation (ABX) Earns Outperform Rating from Royal Bank Of Canada
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank Of Canada in a research report issued on Thursday.
Other research analysts also recently issued research reports about the stock. Jefferies Group LLC set a $24.00 price target on shares of Barrick Gold Corporation and gave the company a “buy” rating in a report on Friday, May 19th. Deutsche Bank AG restated a “buy” rating and set a $21.00 price target (down previously from $22.00) on shares of Barrick Gold Corporation in a report on Sunday, June 25th. Citigroup Inc. restated a “buy” rating on shares of Barrick Gold Corporation in a report on Wednesday. Barclays PLC reiterated an “equal weight” rating and issued a $20.00 target price (down from $22.00) on shares of Barrick Gold Corporation in a research note on Thursday, June 1st. Finally, Berenberg Bank upgraded shares of Barrick Gold Corporation from a “sell” rating to a “hold” rating and raised their target price for the company from $16.13 to $16.40 in a research note on Thursday, June 29th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $20.59.
Shares of Barrick Gold Corporation (NYSE ABX) traded up 0.84% during mid-day trading on Thursday, reaching $18.00. 11,995,886 shares of the company were exchanged. Barrick Gold Corporation has a 12 month low of $13.81 and a 12 month high of $20.78. The firm’s 50-day moving average is $16.93 and its 200-day moving average is $17.33. The company has a market capitalization of $20.99 billion, a price-to-earnings ratio of 8.91 and a beta of -0.29.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last released its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.03 billion. Barrick Gold Corporation had a net margin of 26.95% and a return on equity of 8.91%. Barrick Gold Corporation’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. On average, equities analysts forecast that Barrick Gold Corporation will post $0.74 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Palo Capital acquired a new stake in Barrick Gold Corporation in the 3rd quarter worth $100,000. Quadrant Capital Group LLC grew its position in Barrick Gold Corporation by 275.8% in the 1st quarter. Quadrant Capital Group LLC now owns 5,592 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 4,104 shares during the last quarter. Advisors Asset Management Inc. grew its position in Barrick Gold Corporation by 116.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 3,543 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Barrick Gold Corporation by 9.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 5,608 shares of the basic materials company’s stock worth $106,000 after purchasing an additional 506 shares during the last quarter. Finally, FNY Managed Accounts LLC acquired a new stake in Barrick Gold Corporation in the 1st quarter worth $116,000. Institutional investors own 55.65% of the company’s stock.
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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