Barrick Gold Corp (NYSE:ABX) (TSE:ABX) – Cormark dropped their Q4 2017 earnings per share estimates for shares of Barrick Gold in a research report issued to clients and investors on Tuesday. Cormark analyst R. Gray now forecasts that the basic materials company will post earnings of $0.19 per share for the quarter, down from their prior estimate of $0.20.
Other equities research analysts also recently issued reports about the company. Jefferies Group set a $20.00 target price on Barrick Gold and gave the company a “buy” rating in a report on Thursday, October 19th. Royal Bank of Canada set a $21.00 target price on Barrick Gold and gave the company a “buy” rating in a report on Monday, October 30th. Zacks Investment Research upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Monday, January 8th. TheStreet downgraded Barrick Gold from a “b-” rating to a “c” rating in a report on Thursday, October 26th. Finally, BMO Capital Markets set a $16.00 price objective on Barrick Gold and gave the stock a “hold” rating in a report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $18.41.
Barrick Gold (NYSE:ABX) (TSE:ABX) last announced its earnings results on Wednesday, February 14th. The basic materials company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.21 billion. Barrick Gold had a return on equity of 7.73% and a net margin of 25.72%. The company’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS.
Institutional investors and hedge funds have recently modified their holdings of the company. Stifel Financial Corp grew its position in shares of Barrick Gold by 135.5% in the 3rd quarter. Stifel Financial Corp now owns 234,370 shares of the basic materials company’s stock worth $3,772,000 after acquiring an additional 134,836 shares in the last quarter. Sanders Morris Harris LLC boosted its position in Barrick Gold by 9.7% during the 3rd quarter. Sanders Morris Harris LLC now owns 214,000 shares of the basic materials company’s stock valued at $3,444,000 after purchasing an additional 19,000 shares during the period. Quantbot Technologies LP acquired a new position in Barrick Gold during the 3rd quarter valued at approximately $406,000. Ameriprise Financial Inc. boosted its position in Barrick Gold by 28.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 58,507 shares of the basic materials company’s stock valued at $931,000 after purchasing an additional 12,852 shares during the period. Finally, Flossbach Von Storch AG boosted its position in Barrick Gold by 8.1% during the 3rd quarter. Flossbach Von Storch AG now owns 28,677,838 shares of the basic materials company’s stock valued at $461,427,000 after purchasing an additional 2,148,150 shares during the period. Institutional investors own 54.94% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.88%. Barrick Gold’s payout ratio is 6.45%.
Barrick Gold 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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