Barrick Gold Corp. (ABX) Sees Large Volume Increase
Barrick Gold Corp. (NYSE:ABX) shares saw unusually-strong trading volume on Wednesday . Approximately 22,718,998 shares traded hands during trading, an increase of 57% from the previous session’s volume of 14,433,925 shares.The stock last traded at $17.03 and had previously closed at $17.42.
A number of research analysts recently weighed in on ABX shares. Vetr raised Barrick Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $24.15 price objective on the stock in a report on Monday, August 22nd. TD Securities reaffirmed a “buy” rating and set a $26.00 price objective on shares of Barrick Gold Corp. in a report on Monday, July 25th. Credit Suisse Group AG reaffirmed a “buy” rating and set a $17.00 price objective on shares of Barrick Gold Corp. in a report on Wednesday, June 29th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and set a $27.00 price objective on shares of Barrick Gold Corp. in a report on Friday, July 29th. Finally, Mackie lowered Barrick Gold Corp. from a “hold” rating to a “sell” rating in a report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $21.28.
The company’s market cap is $19.82 billion. The stock’s 50 day moving average is $20.70 and its 200 day moving average is $17.82.
Barrick Gold Corp. (NYSE:ABX) last posted its earnings results on Wednesday, July 27th. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. During the same quarter in the prior year, the business posted ($0.01) EPS. The business earned $2.01 billion during the quarter, compared to the consensus estimate of $2.02 billion. Barrick Gold Corp.’s quarterly revenue was down 9.8% on a year-over-year basis. Analysts anticipate that Barrick Gold Corp. will post $0.69 EPS for the current fiscal year.
The business 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 dividend of $0.02 per share. The ex-dividend date is Monday, August 29th. This represents a $0.08 annualized dividend and a yield of 0.47%.
A hedge fund recently raised its stake in Barrick Gold Corp. stock. I.G. Investment Management LTD. increased its stake in shares of Barrick Gold Corp. (NYSE:ABX) by 99.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 664,800 shares of the company’s stock after buying an additional 331,083 shares during the period. I.G. Investment Management LTD. owned 0.06% of Barrick Gold Corp. worth $4,922,000 at the end of the most recent reporting 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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