Barrick Gold Corp. (ABX) Stock Price Up 2.6%
Shares of Barrick Gold Corp. (NYSE:ABX) rose 2.6% on Tuesday . The company traded as high as $22.94 and last traded at $22.81, with a volume of 13,186,998 shares trading hands. The stock had previously closed at $22.23.
ABX has been the topic of a number of analyst reports. Zacks Investment Research upgraded Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, July 12th. Citigroup Inc. initiated coverage on Barrick Gold Corp. in a research note on Tuesday. They issued a “buy” rating and a $29.00 price target on the stock. Canaccord Genuity downgraded Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Credit Suisse Group AG restated a “buy” rating and issued a $17.00 price target on shares of Barrick Gold Corp. in a research note on Wednesday, June 29th. Finally, Vetr downgraded Barrick Gold Corp. from a “strong-buy” rating to a “buy” rating and set a $23.56 price target on the stock. in a research note on Wednesday, July 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $19.35.
The stock’s 50 day moving average price is $21.09 and its 200-day moving average price is $16.41. The stock’s market capitalization is $26.27 billion.
Barrick Gold Corp. (NYSE:ABX) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 earnings per share for the quarter, missing the 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 firm earned $2.01 billion during the quarter, compared to analyst estimates of $2.02 billion. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. On average, analysts forecast that Barrick Gold Corp. will post $0.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Monday, August 29th.
Several large investors recently added to or reduced their stakes in the company. Comerica Bank raised 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 valued at $1,067,000 after buying an additional 18,121 shares in the last quarter. I.G. Investment Management LTD. raised 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 valued at $4,922,000 after buying an additional 331,083 shares in the last quarter. Deere & Co. bought a new stake in Barrick Gold Corp. during the fourth quarter valued at $1,776,000. Jennison Associates LLC raised its stake 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 in the last quarter. Finally, Marshall Wace LLP bought a new stake in Barrick Gold Corp. during the fourth quarter valued at $1,326,000.
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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