Barrick Gold Corp. (ABX) Stock Price Down 0.8%
Barrick Gold Corp. (NYSE:ABX) fell 0.8% during mid-day trading on Monday . The company traded as low as $21.52 and last traded at $21.57, with a volume of 4,313,902 shares. The stock had previously closed at $21.75.
ABX has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday, July 12th. Citigroup Inc. initiated coverage on shares of Barrick Gold Corp. in a report on Tuesday, August 2nd. They issued a “buy” rating and a $29.00 price objective for the company. TD Securities reissued a “buy” rating and issued a $26.00 price objective on shares of Barrick Gold Corp. in a report on Saturday. Canaccord Genuity lowered shares of Barrick Gold Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $17.00 price objective on shares of Barrick Gold Corp. in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $21.26.
The stock has a 50-day moving average of $21.50 and a 200-day moving average of $17.24. The stock’s market capitalization is $24.06 billion.
Barrick Gold Corp. (NYSE:ABX) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The company earned $2.01 billion during the quarter, compared to analyst estimates of $2.02 billion. The company’s quarterly revenue was down 9.8% on a year-over-year basis. On average, analysts forecast that Barrick Gold Corp. will post $0.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Monday, August 29th.
Several large investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new stake in Barrick Gold Corp. during the fourth quarter valued at about $1,326,000. I.G. Investment Management LTD. raised its stake in 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 valued at $4,922,000 after buying an additional 331,083 shares in the last quarter. Bridgewater Associates LP raised its stake in Barrick Gold Corp. by 19.4% in the fourth quarter. Bridgewater Associates LP now owns 1,748,103 shares of the company’s stock valued at $12,901,000 after buying an additional 284,500 shares in the last quarter. Finally, Jennison Associates LLC raised its stake 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 in the last quarter.
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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