Barrick Gold Corp. (ABX) Raised to Buy at Deutsche Bank AG
Deutsche Bank AG upgraded shares of Barrick Gold Corp. (NYSE:ABX) from a hold rating to a buy rating in a research note published on Monday. The firm currently has $22.00 price objective on the stock.
Several other research firms also recently weighed in on ABX. Zacks Investment Research upgraded shares of Barrick Gold Corp. from a hold rating to a strong-buy rating and set a $20.00 target price for the company in a research note on Wednesday, September 28th. Berenberg Bank began coverage on shares of Barrick Gold Corp. in a research note on Wednesday, September 7th. They issued a sell rating and a $15.20 target price for the company. RBC Capital Markets reiterated a sector perform rating on shares of Barrick Gold Corp. in a research note on Sunday, September 4th. Vetr upgraded shares of Barrick Gold Corp. from a buy rating to a strong-buy rating and set a $24.15 target price for the company in a research note on Monday, August 22nd. Finally, Citigroup Inc. reiterated a buy rating on shares of Barrick Gold Corp. in a research note on Thursday, August 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Barrick Gold Corp. currently has an average rating of Buy and an average target price of $21.29.
Barrick Gold Corp. (NYSE:ABX) opened at 15.98 on Monday. The firm’s market capitalization is $18.62 billion. The company’s 50-day moving average is $18.15 and its 200-day moving average is $18.53. Barrick Gold Corp. has a 52-week low of $6.90 and a 52-week high of $23.47.
Barrick Gold Corp. (NYSE:ABX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. Barrick Gold Corp. had a positive return on equity of 4.95% and a negative net margin of 33.33%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the business posted ($0.01) EPS. The business’s quarterly revenue was down 9.8% on a year-over-year basis. Analysts forecast that Barrick Gold Corp. will post $0.69 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, August 29th. Barrick Gold Corp.’s dividend payout ratio (DPR) is presently -3.29%.
Several hedge funds and other institutional investors have recently bought and sold shares of ABX. First New York Securities LLC NY acquired a new position in Barrick Gold Corp. during the second quarter valued at approximately $117,000. Dubuque Bank & Trust Co. acquired a new position in Barrick Gold Corp. during the second quarter valued at approximately $141,000. CENTRAL TRUST Co increased its position in shares of Barrick Gold Corp. by 5.3% in the second quarter. CENTRAL TRUST Co now owns 7,786 shares of the company’s stock valued at $166,000 after buying an additional 392 shares during the last quarter. Fruth Investment Management purchased a new position in shares of Barrick Gold Corp. during the second quarter valued at approximately $210,000. Finally, Bourgeon Capital Management LLC purchased a new position in shares of Barrick Gold Corp. during the second quarter valued at approximately $213,000. 60.11% of the stock is currently owned by hedge funds and other institutional investors.
Barrick Gold Corp. Company Profile
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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