Barrick Gold Corp. (ABX) Trading Up 2.3%
Shares of Barrick Gold Corp. (NYSE:ABX) were up 2.3% during trading on Wednesday . The company traded as high as $21.32 and last traded at $21.09, with a volume of 16,142,925 shares trading hands. The stock had previously closed at $20.62.
Several research firms have issued reports on ABX. Jefferies Group increased their target price on shares of Barrick Gold Corp. to $15.00 in a research note on Wednesday, March 30th. Royal Bank Of Canada increased their target price on shares of Barrick Gold Corp. from $12.50 to $16.00 in a research note on Tuesday, April 12th. Credit Suisse Group AG reiterated a “buy” rating on shares of Barrick Gold Corp. in a research note on Monday, April 11th. Canaccord Genuity reiterated a “buy” rating and issued a $21.50 target price (up from $21.00) on shares of Barrick Gold Corp. in a research note on Friday, April 1st. Finally, Argus raised shares of Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, March 15th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $16.47.
The firm’s market capitalization is $24.56 billion. The stock’s 50-day moving average price is $19.76 and its 200 day moving average price is $14.96.
Barrick Gold Corp. (NYSE:ABX) last released its quarterly earnings results on Tuesday, April 26th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Barrick Gold Corp.’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.05 EPS. Equities analysts anticipate that Barrick Gold Corp. will post $0.61 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Thursday, May 26th.
A number of hedge funds and institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. boosted its position in Barrick Gold Corp. by 27.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 141,025 shares of the company’s stock worth $1,041,000 after buying an additional 30,121 shares during the period. Comerica Bank boosted its position in Barrick Gold Corp. by 16.7% in the fourth quarter. Comerica Bank now owns 126,711 shares of the company’s stock worth $1,067,000 after buying an additional 18,121 shares during the period. Marshall Wace LLP purchased a new position in Barrick Gold Corp. during the fourth quarter worth $1,326,000. Deere & Co. purchased a new position in Barrick Gold Corp. during the fourth quarter worth $1,776,000. Finally, Stuyvesant Capital Management boosted its position in Barrick Gold Corp. by 2.2% in the fourth quarter. Stuyvesant Capital Management now owns 279,150 shares of the company’s stock worth $2,060,000 after buying an additional 6,120 shares during the period.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. The Company produces copper, principally from its Zaldivar joint venture and Lumwana mine, and holds other interests. Barricks’ segments include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Porgera, Kalgoorlie, Acacia Mining plc, Lumwana, Zaldivar and Pascua-Lama Project.
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