Barrick Gold Corp. (ABX) Trading Down 2.8%
Barrick Gold Corp. (NYSE:ABX)’s share price traded down 2.8% during mid-day trading on Tuesday . The company traded as low as $17.81 and last traded at $17.88, with a volume of 7,849,191 shares. The stock had previously closed at $18.39.
A number of equities analysts recently issued reports on the company. Vetr raised Barrick Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $23.66 price objective for the company in a report on Wednesday, July 20th. Zacks Investment Research lowered Barrick Gold Corp. from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Jefferies Group raised Barrick Gold Corp. from a “hold” rating to a “buy” rating and increased their price objective for the stock from $21.08 to $26.00 in a report on Thursday, July 14th. TD Securities reissued a “buy” rating and issued a $26.00 price objective on shares of Barrick Gold Corp. in a report on Monday, July 25th. Finally, Canaccord Genuity raised Barrick Gold Corp. from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $21.28.
The stock’s market capitalization is $20.30 billion. The stock has a 50 day moving average of $20.80 and a 200 day moving average of $17.82.
Barrick Gold Corp. (NYSE:ABX) last announced its earnings results 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. The company earned $2.01 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year. Equities research analysts predict that Barrick Gold Corp. will post $0.69 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, August 29th.
A hedge fund recently raised its stake in Barrick Gold Corp. stock. I.G. Investment Management LTD. increased its stake in Barrick Gold Corp. (NYSE:ABX) by 99.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 664,800 shares of the company’s stock after buying an additional 331,083 shares during the period. I.G. Investment Management LTD. owned about 0.06% of Barrick Gold Corp. worth $4,922,000 as of its most recent filing with the SEC.
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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