Barrick Gold Corp. (ABX) Sees Large Volume Increase
Shares of Barrick Gold Corp. (NYSE:ABX) saw an uptick in trading volume on Wednesday . 14,519,635 shares traded hands during trading, an increase of 11% from the previous session’s volume of 13,054,877 shares.The stock last traded at $18.89 and had previously closed at $20.09.
Several research firms have recently weighed in on ABX. TheStreet upgraded Barrick Gold Corp. from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Vetr upgraded Barrick Gold Corp. from a “sell” rating to a “hold” rating and set a $18.00 price target for the company in a research note on Monday, May 23rd. Canaccord Genuity downgraded Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Zacks Investment Research downgraded Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. Finally, Royal Bank Of Canada increased their price target on Barrick Gold Corp. from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Monday, May 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Barrick Gold Corp. presently has an average rating of “Buy” and an average target price of $21.28.
The company has a 50-day moving average price of $21.41 and a 200 day moving average price of $17.59. The company’s market cap is $21.17 billion.
Barrick Gold Corp. (NYSE:ABX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.14 earnings per share (EPS) 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 analyst estimates of $2.02 billion. During the same period in the previous year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. Equities analysts predict that Barrick Gold Corp. will post $0.69 earnings per share for the current fiscal year.
The business also recently declared 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. This represents a $0.08 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, August 29th.
Several institutional investors have added to or reduced their stakes in 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 period. 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 period.
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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