Barrick Gold Corporation (ABX) Given Buy Rating at Citigroup Inc.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX)‘s stock had its “buy” rating restated by research analysts at Citigroup Inc. in a research report issued on Wednesday.
Other equities analysts also recently issued research reports about the company. TD Securities reaffirmed a “hold” rating on shares of Barrick Gold Corporation in a research report on Sunday, May 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $21.00 price target on shares of Barrick Gold Corporation in a research report on Tuesday, July 18th. Jefferies Group LLC set a $20.00 price target on Barrick Gold Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Raymond James Financial, Inc. reaffirmed a “market perform” rating and set a $19.00 price target on shares of Barrick Gold Corporation in a research report on Thursday, June 15th. Finally, Zacks Investment Research downgraded Barrick Gold Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $20.59.
Barrick Gold Corporation (NYSE:ABX) traded down 1.06% during mid-day trading on Wednesday, hitting $17.81. 10,512,344 shares of the stock were exchanged. Barrick Gold Corporation has a 12-month low of $13.81 and a 12-month high of $20.78. The stock has a market capitalization of $20.77 billion, a P/E ratio of 8.82 and a beta of -0.29. The firm has a 50-day moving average price of $17.03 and a 200-day moving average price of $17.34.
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, topping analysts’ consensus estimates of $0.17 by $0.05. Barrick Gold Corporation had a return on equity of 8.91% and a net margin of 26.95%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm posted $0.14 EPS. The business’s revenue was up 7.4% on a year-over-year basis. Equities analysts predict that Barrick Gold Corporation will post $0.74 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Managed Accounts LLC bought a new stake in Barrick Gold Corporation in the 1st quarter valued at $116,000. Advisors Asset Management Inc. raised its stake 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 valued at $105,000 after acquiring an additional 3,543 shares during the period. Capital Innovations LLC bought a new stake in Barrick Gold Corporation in the 1st quarter valued at $253,000. FNY Partners Fund LP bought a new stake in Barrick Gold Corporation in the 2nd quarter valued at $159,000. Finally, F&V Capital Management LLC bought a new stake in Barrick Gold Corporation in the 2nd quarter valued at $161,000. Institutional investors and hedge funds 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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