Barrick Gold Corp. (ABX) Trading 2.6% Higher
Shares of Barrick Gold Corp. (NYSE:ABX) traded up 2.6% during trading on Tuesday . The stock traded as high as $22.94 and last traded at $22.81, with a volume of 13,186,998 shares changing hands. The stock had previously closed at $22.23.
Several analysts have commented on the company. Citigroup Inc. assumed coverage on Barrick Gold Corp. in a research note on Tuesday. They set a “buy” rating and a $29.00 price objective for the company. Canaccord Genuity cut Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Zacks Investment Research cut Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating and set a $27.00 target price on shares of Barrick Gold Corp. in a research report on Friday. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Barrick Gold Corp. in a research report on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $19.35.
The company has a 50-day moving average price of $20.94 and a 200 day moving average price of $16.26. The company’s market cap is $26.44 billion.
Barrick Gold Corp. (NYSE:ABX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. During the same period in the previous year, the company posted ($0.01) earnings per share. The business earned $2.01 billion during the quarter, compared to analysts’ expectations of $2.02 billion. The firm’s revenue was down 9.8% compared to the same quarter last year. Analysts forecast that Barrick Gold Corp. will post $0.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Monday, August 29th.
Other institutional investors have added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in Barrick Gold Corp. by 15.7% in the fourth quarter. Jennison Associates LLC now owns 5,450,365 shares of the company’s stock valued at $40,224,000 after buying an additional 740,712 shares during the last quarter. I.G. Investment Management LTD. boosted its position 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 valued at $4,922,000 after buying an additional 331,083 shares during the last quarter. Marshall Wace LLP acquired a new position in Barrick Gold Corp. during the fourth quarter valued at about $1,326,000. Deere & Co. acquired a new position in Barrick Gold Corp. during the fourth quarter valued at about $1,776,000. Finally, OppenheimerFunds Inc. boosted its position in Barrick Gold Corp. by 14.1% in the fourth quarter. OppenheimerFunds Inc. now owns 2,210,386 shares of the company’s stock valued at $16,313,000 after buying an additional 272,886 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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