Traders Sell Barrick Gold Corp. (ABX) on Strength (ABX)
Investors sold shares of Barrick Gold Corp. (NYSE:ABX) on strength during trading hours on Monday. $33.78 million flowed into the stock on the tick-up and $57.02 million flowed out of the stock on the tick-down, for a money net flow of $23.24 million out of the stock. Of all companies tracked, Barrick Gold Corp. had the 0th highest net out-flow for the day. Barrick Gold Corp. traded up $0.18 for the day and closed at $21.42
A number of equities research analysts have weighed in on the stock. Morgan Stanley assumed coverage on shares of Barrick Gold Corp. in a report on Tuesday. They issued an “equal weight” rating and a $20.00 price objective on the stock. TheStreet upgraded shares of Barrick Gold Corp. from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. Vetr upgraded shares of Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $16.13 price objective on the stock in a report on Monday, April 18th. Clarkson Capital upgraded shares of Barrick Gold Corp. from a “neutral” rating to a “buy” rating in a report on Monday, April 18th. Finally, Canaccord Genuity cut shares of Barrick Gold Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Barrick Gold Corp. currently has a consensus rating of “Buy” and an average target price of $19.87.
The company’s market capitalization is $24.96 billion. The firm’s 50-day moving average is $21.21 and its 200-day moving average is $16.71.
Barrick Gold Corp. (NYSE:ABX) last released its earnings results 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 quarter in the previous year, the company posted ($0.01) earnings per share. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.02 billion. The company’s revenue was down 9.8% compared to the same quarter last year. Equities analysts predict that Barrick Gold Corp. will post $0.68 EPS for the current fiscal year.
The business 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 0.37%. The ex-dividend date is Monday, August 29th.
Other hedge funds have 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 valued at $40,224,000 after buying an additional 740,712 shares during the last quarter. 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 valued at $4,922,000 after buying an additional 331,083 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Barrick Gold Corp. during the fourth quarter valued at approximately $1,326,000. Finally, Comerica Bank boosted its stake in shares of 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 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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