Barrick Gold Corp. (ABX) Shares Down 1.2%
Barrick Gold Corp. (NYSE:ABX) shares traded down 1.2% during trading on Tuesday . The company traded as low as $20.08 and last traded at $20.15, with a volume of 7,268,315 shares trading hands. The stock had previously closed at $20.39.
A number of research analysts recently commented on the company. TheStreet raised Barrick Gold Corp. from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Vetr raised Barrick Gold Corp. from a “sell” rating to a “hold” rating and set a $18.00 price objective on the stock in a research note on Monday, May 23rd. Canaccord Genuity cut Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Zacks Investment Research cut Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. Finally, Royal Bank Of Canada raised their price objective on Barrick Gold Corp. from $16.00 to $18.00 and gave the company a “sector perform” rating in a research note on Monday, May 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $21.28.
The company’s market capitalization is $21.14 billion. The company has a 50 day moving average price of $21.29 and a 200-day moving average price of $17.60.
Barrick Gold Corp. (NYSE:ABX) last issued its earnings results on Wednesday, July 27th. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the company earned ($0.01) EPS. Barrick Gold Corp.’s quarterly revenue was down 9.8% on a year-over-year basis. On average, analysts expect that Barrick Gold Corp. will post $0.69 earnings per share for the current 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 paid a $0.02 dividend. The ex-dividend date is Monday, August 29th. This represents a $0.08 dividend on an annualized basis and a yield of 0.44%.
A number of institutional investors recently modified their holdings of ABX. I.G. Investment Management LTD. increased its position 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 worth $4,922,000 after buying an additional 331,083 shares in the last quarter. 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. Finally, Marshall Wace LLP acquired a new stake in shares of 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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