Barrick Gold Corp. (ABX) Stock Price Down 1.2%
Barrick Gold Corp. (NYSE:ABX) shares were down 1.2% during mid-day trading on Tuesday . The stock traded as low as $20.08 and last traded at $20.15, with a volume of 7,268,315 shares. The stock had previously closed at $20.39.
Several research analysts have issued reports on ABX shares. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Barrick Gold Corp. in a research note on Monday, April 25th. Zacks Investment Research upgraded Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, April 29th. 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 note on Monday, May 2nd. Canaccord Genuity lowered Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Finally, TheStreet upgraded Barrick Gold Corp. from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $21.28.
The stock’s 50 day moving average price is $21.41 and its 200 day moving average price is $17.59. The stock’s market cap is $23.41 billion.
Barrick Gold Corp. (NYSE:ABX) last issued its earnings results 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. The business earned $2.01 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts expect that Barrick Gold Corp. will post $0.69 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a $0.02 dividend. The ex-dividend date is Monday, August 29th. This represents a $0.08 dividend on an annualized basis and a yield of 0.40%.
Other institutional investors have recently modified their holdings of the company. Marshall Wace LLP purchased a new position in shares of Barrick Gold Corp. during the fourth quarter worth about $1,326,000. I.G. Investment Management LTD. boosted its position in shares of 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 worth $4,922,000 after buying an additional 331,083 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Barrick Gold Corp. by 15.7% in the fourth quarter. Jennison Associates LLC now owns 5,450,365 shares of the company’s stock worth $40,224,000 after buying an additional 740,712 shares during 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.