Barrick Gold Corp. (ABX) Shares Up 2.3%
Shares of Barrick Gold Corp. (NYSE:ABX) shot up 2.3% during mid-day trading on Wednesday . The stock traded as high as $21.32 and last traded at $21.09, with a volume of 16,142,925 shares changing hands. The stock had previously closed at $20.62.
Several equities analysts recently issued reports on the stock. Canaccord Genuity downgraded shares of Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Zacks Investment Research downgraded shares of Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Barrick Gold Corp. in a research note on Monday, April 25th. Vetr downgraded shares of Barrick Gold Corp. from a “hold” rating to a “sell” rating and set a $17.33 price objective on the stock. in a research note on Monday, May 2nd. Finally, Jefferies Group raised shares of Barrick Gold Corp. from a “hold” rating to a “buy” rating and upped their price objective for the company from $21.08 to $26.00 in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Barrick Gold Corp. presently has a consensus rating of “Buy” and a consensus target price of $17.02.
The company’s market capitalization is $25.02 billion. The firm has a 50-day moving average of $20.01 and a 200 day moving average of $15.05.
Barrick Gold Corp. (NYSE:ABX) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. During the same period last year, the company earned $0.05 earnings per share. The company earned $1.93 billion during the quarter, compared to the consensus estimate of $1.95 billion. The business’s revenue was down 14.0% compared to the same quarter last year. On average, equities research analysts predict that Barrick Gold Corp. will post $0.63 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.37%.
Other hedge funds recently made changes to their positions in the company. Jennison Associates LLC boosted its stake in shares of Barrick Gold Corp. by 15.7% in the fourth quarter. Jennison Associates LLC now owns 5,450,365 shares of the company’s stock worth $40,224,000 after buying an additional 740,712 shares during the period. I.G. Investment Management LTD. boosted its stake in shares of Barrick Gold Corp. by 99.2% in the fourth quarter. I.G. Investment Management LTD. now owns 664,800 shares of the company’s stock worth $4,922,000 after buying an additional 331,083 shares during the period. Marshall Wace LLP bought a new stake in shares of Barrick Gold Corp. during the fourth quarter worth approximately $1,326,000. Deere & Co. bought a new stake in shares of Barrick Gold Corp. during the fourth quarter worth approximately $1,776,000. Finally, Stuyvesant Capital Management boosted its stake in shares of 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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