Investors Buy Shares of Barrick Gold Corp. (ABX) on Weakness
Investors bought shares of Barrick Gold Corp. (NYSE:ABX) on weakness during trading on Friday. $101.95 million flowed into the stock on the tick-up and $84.54 million flowed out of the stock on the tick-down, for a money net flow of $17.41 million into the stock. Of all equities tracked, Barrick Gold Corp. had the 2nd highest net in-flow for the day. Barrick Gold Corp. traded down ($0.03) for the day and closed at $22.32
Several brokerages have commented on ABX. Canaccord Genuity lowered Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Zacks Investment Research lowered Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Barrick Gold Corp. in a research report on Monday, April 25th. Vetr lowered Barrick Gold Corp. from a “hold” rating to a “sell” rating and set a $17.33 price objective for the company. in a research report on Monday, May 2nd. Finally, TheStreet raised Barrick Gold Corp. from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $16.22.
The firm’s market capitalization is $26.01 billion. The firm has a 50-day moving average of $19.57 and a 200-day moving average of $14.71.
Barrick Gold Corp. (NYSE:ABX) last released its quarterly earnings results on Tuesday, April 26th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The business earned $1.93 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the business posted $0.05 earnings per share. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. Analysts anticipate that Barrick Gold Corp. will post $0.60 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Thursday, May 26th.
A number of large investors have added to or reduced their stakes in ABX. Oppenheimer & Co. Inc. boosted its stake in Barrick Gold Corp. by 27.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 141,025 shares of the company’s stock worth $1,041,000 after buying an additional 30,121 shares during the period. Comerica Bank boosted its stake in Barrick Gold Corp. by 16.7% in the fourth quarter. Comerica Bank now owns 126,711 shares of the company’s stock worth $1,067,000 after buying an additional 18,121 shares during the period. Marshall Wace LLP acquired a new stake in Barrick Gold Corp. during the fourth quarter worth approximately $1,326,000. Deere & Co. acquired a new stake in Barrick Gold Corp. during the fourth quarter worth approximately $1,776,000. Finally, Stuyvesant Capital Management boosted its stake in Barrick Gold Corp. by 2.2% in the fourth quarter. Stuyvesant Capital Management now owns 279,150 shares of the company’s stock worth $2,060,000 after buying an additional 6,120 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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