Barrick Gold Corp. (ABX) Stock Price Down 5.3%
Shares of Barrick Gold Corp. (NYSE:ABX) dropped 5.3% on Friday . The company traded as low as $21.07 and last traded at $21.19, with a volume of 15,651,651 shares. The stock had previously closed at $22.37.
ABX has been the topic of a number of research reports. Vetr raised shares of Barrick Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $22.58 target price on the stock in a report on Wednesday, June 15th. Zacks Investment Research raised shares of Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, July 12th. Mackie cut shares of Barrick Gold Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 20th. Deutsche Bank AG increased their target price on shares of Barrick Gold Corp. from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Finally, Royal Bank Of Canada increased their target price on shares of Barrick Gold Corp. from $12.50 to $16.00 in a report on Tuesday, April 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.35.
The stock’s market capitalization is $24.75 billion. The company’s 50 day moving average price is $21.18 and its 200-day moving average price is $16.49.
Barrick Gold Corp. (NYSE:ABX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. During the same period in the previous year, the firm posted ($0.01) earnings per share. The business earned $2.01 billion during the quarter, compared to the consensus estimate of $2.02 billion. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts predict that Barrick Gold Corp. will post $0.68 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.02 per share. The ex-dividend date is Monday, August 29th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.38%.
Other hedge funds and 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 worth $40,224,000 after buying an additional 740,712 shares in 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 worth $4,922,000 after buying an additional 331,083 shares in the last quarter. Marshall Wace LLP acquired a new position in Barrick Gold Corp. during the fourth quarter worth about $1,326,000. Finally, 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 in 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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