Barrick Gold Corp. (ABX) Shares Down 0.8%
Barrick Gold Corp. (NYSE:ABX)’s share price traded down 0.8% on Monday . The company traded as low as $21.52 and last traded at $21.57, with a volume of 4,313,902 shares changing hands. The stock had previously closed at $21.75.
A number of equities analysts recently commented on the company. Citigroup Inc. assumed coverage on Barrick Gold Corp. in a report on Tuesday, August 2nd. They issued a “buy” rating and a $29.00 price objective on the stock. Zacks Investment Research upgraded 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. Canaccord Genuity restated a “buy” rating and issued a $34.00 price objective on shares of Barrick Gold Corp. in a report on Wednesday, August 10th. TD Securities restated a “buy” rating and issued a $26.00 price objective on shares of Barrick Gold Corp. in a report on Saturday. Finally, Vetr downgraded Barrick Gold Corp. from a “strong-buy” rating to a “buy” rating and set a $23.79 price objective on the stock. in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Barrick Gold Corp. currently has a consensus rating of “Buy” and an average price target of $21.26.
The company’s market capitalization is $25.07 billion. The stock’s 50-day moving average price is $21.50 and its 200 day moving average price is $17.15.
Barrick Gold Corp. (NYSE:ABX) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. 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% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) earnings per share. Equities analysts anticipate that Barrick Gold Corp. will post $0.69 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, August 29th.
Other hedge funds and institutional investors have bought and sold shares of the company. Marshall Wace LLP acquired a new position in Barrick Gold Corp. during the fourth quarter worth $1,326,000. I.G. Investment Management LTD. raised 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 during the last quarter. Bridgewater Associates LP raised its position in Barrick Gold Corp. by 19.4% in the fourth quarter. Bridgewater Associates LP now owns 1,748,103 shares of the company’s stock worth $12,901,000 after buying an additional 284,500 shares during the last quarter. Finally, Jennison Associates LLC raised 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 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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