Barrick Gold Corp. (ABX) Stock Price Down 2.8%
Barrick Gold Corp. (NYSE:ABX)’s share price fell 2.8% on Thursday . The stock traded as low as $21.94 and last traded at $22.52, with a volume of 15,005,222 shares changing hands. The stock had previously closed at $23.16.
Several equities research analysts recently commented on the company. Credit Suisse Group AG reiterated a “buy” rating and issued a $17.00 price objective on shares of Barrick Gold Corp. in a report on Wednesday, June 29th. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating and issued a $27.00 price objective (up from $23.00) on shares of Barrick Gold Corp. in a report on Monday, June 27th. Mackie downgraded Barrick Gold Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 20th. Vetr upgraded Barrick Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $22.58 price objective for the company in a report on Wednesday, June 15th. Finally, Canaccord Genuity downgraded Barrick Gold Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.22.
The stock has a 50 day moving average price of $19.45 and a 200-day moving average price of $14.60. The stock’s market cap is $26.04 billion.
Barrick Gold Corp. (NYSE:ABX) last released its earnings results on Tuesday, April 26th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm earned $1.93 billion during the quarter, compared to analysts’ expectations of $1.95 billion. The business’s revenue was down 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. On average, analysts expect that Barrick Gold Corp. will post $0.60 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were given a $0.02 dividend. The ex-dividend date was Thursday, May 26th. This represents a $0.08 annualized dividend and a dividend yield of 0.36%.
Other institutional investors have recently added to or reduced their stakes in the company. Boston Partners increased its position in Barrick Gold Corp. by 4.1% in the fourth quarter. Boston Partners now owns 13,663,539 shares of the company’s stock valued at $100,837,000 after buying an additional 540,595 shares during the period. Jennison Associates LLC increased 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 valued at $40,224,000 after buying an additional 740,712 shares during the period. OppenheimerFunds Inc. increased its position in Barrick Gold Corp. by 14.1% in the fourth quarter. OppenheimerFunds Inc. now owns 2,210,386 shares of the company’s stock valued at $16,313,000 after buying an additional 272,886 shares during the period. GAM Holding AG increased its position in Barrick Gold Corp. by 3.3% in the fourth quarter. GAM Holding AG now owns 1,798,379 shares of the company’s stock valued at $13,272,000 after buying an additional 56,801 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in Barrick Gold Corp. during the fourth quarter valued at $6,384,000.
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.