Barrick Gold Corp. (ABX) Sees Large Volume Increase
Shares of Barrick Gold Corp. (NYSE:ABX) saw unusually-high trading volume on Wednesday . Approximately 14,519,635 shares traded hands during trading, an increase of 11% from the previous session’s volume of 13,054,877 shares.The stock last traded at $18.89 and had previously closed at $20.09.
ABX has been the subject of a number of recent research 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 research report on Tuesday, July 12th. Citigroup Inc. initiated coverage on shares of Barrick Gold Corp. in a research report on Tuesday, August 2nd. They set a “buy” rating and a $29.00 price objective for the company. TD Securities reaffirmed a “buy” rating and set a $26.00 price objective on shares of Barrick Gold Corp. in a research report on Saturday, August 13th. Canaccord Genuity downgraded shares of Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $17.00 price objective on shares of Barrick Gold Corp. in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $21.28.
The firm’s 50-day moving average is $21.15 and its 200-day moving average is $17.60. The company’s market cap is $22.12 billion.
Barrick Gold Corp. (NYSE:ABX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.01. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.02 billion. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS. Equities research analysts expect that Barrick Gold Corp. will post $0.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, August 29th.
A number of large investors recently bought and sold shares of the stock. Jennison Associates LLC boosted 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 during the last quarter. I.G. Investment Management LTD. raised 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 valued at $4,922,000 after buying an additional 331,083 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Barrick Gold Corp. during the fourth quarter valued at about $1,326,000.
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.
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