Barrick Gold Corp (ABX) PT Set at $15.00 by Berenberg Bank
Berenberg Bank set a $15.00 target price on Barrick Gold Corp (NYSE:ABX) (TSE:ABX) in a research report sent to investors on Saturday morning. The brokerage currently has a sell rating on the basic materials company’s stock.
A number of other research analysts also recently issued reports on the company. Vetr raised Barrick Gold Corp from a hold rating to a buy rating and set a $20.20 price target on the stock in a report on Thursday, March 23rd. Credit Suisse Group AG reaffirmed a buy rating and set a $23.00 price target on shares of Barrick Gold Corp in a report on Wednesday, February 15th. Zacks Investment Research raised Barrick Gold Corp from a strong sell rating to a hold rating in a report on Tuesday, January 31st. Jefferies Group LLC set a $21.00 price target on Barrick Gold Corp and gave the company a buy rating in a report on Tuesday, March 14th. Finally, Scotiabank reaffirmed a sector perform rating and set a $22.50 price target on shares of Barrick Gold Corp in a report on Tuesday, April 25th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $22.95.
Shares of Barrick Gold Corp (NYSE:ABX) opened at 16.38 on Friday. Barrick Gold Corp has a 12 month low of $13.81 and a 12 month high of $23.47. The stock’s 50 day moving average price is $17.55 and its 200 day moving average price is $17.38. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of 13.54 and a beta of -0.24.
Barrick Gold Corp (NYSE:ABX) last announced its quarterly earnings results on Monday, April 24th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by $0.07. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.22 billion. Barrick Gold Corp had a negative net margin of 28.22% and a positive return on equity of 6.81%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share. Analysts expect that Barrick Gold Corp will post $0.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Friday, May 26th. Barrick Gold Corp’s dividend payout ratio (DPR) is presently -3.90%.
A number of hedge funds have recently bought and sold shares of the stock. Majedie Asset Management Ltd boosted its stake in Barrick Gold Corp by 165.3% in the third quarter. Majedie Asset Management Ltd now owns 10,811,567 shares of the basic materials company’s stock worth $191,581,000 after buying an additional 6,736,764 shares during the period. Capstone Asset Management Co. boosted its stake in Barrick Gold Corp by 2.0% in the first quarter. Capstone Asset Management Co. now owns 72,065 shares of the basic materials company’s stock worth $1,369,000 after buying an additional 1,420 shares during the period. Bennicas & Associates Inc. boosted its stake in Barrick Gold Corp by 4.3% in the first quarter. Bennicas & Associates Inc. now owns 24,450 shares of the basic materials company’s stock worth $464,000 after buying an additional 1,000 shares during the period. Comerica Bank boosted its stake in Barrick Gold Corp by 7.2% in the fourth quarter. Comerica Bank now owns 138,534 shares of the basic materials company’s stock worth $2,337,000 after buying an additional 9,361 shares during the period. Finally, Aviva PLC boosted its stake in Barrick Gold Corp by 5.2% in the fourth quarter. Aviva PLC now owns 815,654 shares of the basic materials company’s stock worth $13,014,000 after buying an additional 40,330 shares during the period. Institutional investors own 58.61% of the company’s stock.
About Barrick Gold Corp
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.
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