Barrick Gold Corp. (ABX) Shares Down 2.8%
Shares of Barrick Gold Corp. (NYSE:ABX) fell 2.8% on Tuesday . The stock traded as low as $17.81 and last traded at $17.88, with a volume of 7,849,191 shares trading hands. The stock had previously closed at $18.39.
Several brokerages have weighed in on ABX. Vetr upgraded Barrick Gold Corp. from a “sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research report on Monday, May 23rd. Zacks Investment Research downgraded Barrick Gold Corp. from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Royal Bank Of Canada upped their target price on Barrick Gold Corp. from $16.00 to $18.00 and gave the company a “sector perform” rating in a report on Monday, May 9th. Jefferies Group restated a “buy” rating and set a $26.00 target price on shares of Barrick Gold Corp. in a report on Thursday, July 28th. Finally, Goldman Sachs Group Inc. upped their target price on Barrick Gold Corp. from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $21.28.
The stock’s market cap is $20.35 billion. The firm’s 50-day moving average price is $20.70 and its 200-day moving average price is $17.82.
Barrick Gold Corp. (NYSE:ABX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm earned $2.01 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the firm posted ($0.01) earnings per share. 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 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, August 29th.
An institutional investor recently raised its position in Barrick Gold Corp. stock. I.G. Investment Management LTD. increased its stake in Barrick Gold Corp. (NYSE:ABX) by 99.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 about 0.06% of Barrick Gold Corp. worth $4,922,000 at the end of the most recent 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.