Barrick Gold Corp. (ABX) Stock Price Up 2.5%
Shares of Barrick Gold Corp. (NYSE:ABX) rose 2.5% during mid-day trading on Thursday . The stock traded as high as $20.58 and last traded at $20.40, with a volume of 16,177,336 shares traded. The stock had previously closed at $19.91.
ABX has been the topic of several research reports. Zacks Investment Research upgraded shares of Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, July 12th. CIBC upped their price objective on shares of Barrick Gold Corp. from $11.25 to $13.25 and gave the company a “sector performer” rating in a report on Tuesday, March 29th. Canaccord Genuity downgraded shares of Barrick Gold Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Credit Suisse Group AG reiterated a “buy” rating and issued a $17.00 price objective on shares of Barrick Gold Corp. in a report on Wednesday, June 29th. Finally, Deutsche Bank AG downgraded shares of Barrick Gold Corp. from a “buy” rating to a “hold” rating and set a $14.50 price objective on the stock. in a report on Wednesday, March 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $17.25.
The company’s market capitalization is $23.78 billion. The company has a 50-day moving average price of $20.41 and a 200-day moving average price of $15.45.
Barrick Gold Corp. (NYSE:ABX) last released its earnings results on Tuesday, April 26th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.01. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.95 billion. The company’s revenue for the quarter was down 14.0% on a year-over-year basis. Equities analysts forecast that Barrick Gold Corp. will post $0.66 EPS for the current fiscal year.
Several large investors have added to or reduced their stakes in the company. Comerica Bank boosted its stake 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 last quarter. Marshall Wace LLP acquired a new stake in Barrick Gold Corp. during the fourth quarter worth approximately $1,326,000. Deere & Co. acquired a new stake in Barrick Gold Corp. during the fourth quarter worth approximately $1,776,000. OppenheimerFunds Inc. boosted its stake in Barrick Gold Corp. by 14.1% in the fourth quarter. OppenheimerFunds Inc. now owns 2,210,386 shares of the company’s stock worth $16,313,000 after buying an additional 272,886 shares during the last quarter. Finally, I.G. Investment Management LTD. boosted its stake in 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 last quarter.
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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