Analysts Set Barrick Gold Corp. (NYSE:ABX) PT at $21.73
Barrick Gold Corp. (NYSE:ABX) has received an average recommendation of “Buy” from the twenty-two research firms that are presently covering the stock. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, nine have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $21.73.
Several equities analysts have recently issued reports on ABX shares. Citigroup Inc. started coverage on Barrick Gold Corp. in a research report on Tuesday, August 2nd. They set a “buy” rating and a $29.00 target price for the company. Zacks Investment Research upgraded Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, July 12th. Canaccord Genuity restated a “buy” rating and set a $34.00 target price on shares of Barrick Gold Corp. in a research report on Wednesday, August 10th. TD Securities restated a “buy” rating and set a $26.00 target price on shares of Barrick Gold Corp. in a research report on Saturday, August 13th. Finally, Vetr lowered Barrick Gold Corp. from a “strong-buy” rating to a “buy” rating and set a $23.79 target price for the company. in a research report on Tuesday, August 9th.
Large investors have recently bought and sold shares of the stock. Carnick & Kubik Group LLC acquired a new stake in Barrick Gold Corp. during the second quarter worth $245,000. Northwestern Mutual Wealth Management Co. boosted its stake in Barrick Gold Corp. by 16.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 21,934 shares of the company’s stock worth $468,000 after buying an additional 3,172 shares during the period. Cohen & Steers Inc. boosted its stake in Barrick Gold Corp. by 36.0% in the second quarter. Cohen & Steers Inc. now owns 181,326 shares of the company’s stock worth $3,871,000 after buying an additional 47,970 shares during the period. IFP Advisors Inc boosted its stake in Barrick Gold Corp. by 98.5% in the second quarter. IFP Advisors Inc now owns 15,337 shares of the company’s stock worth $327,000 after buying an additional 7,611 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Barrick Gold Corp. during the second quarter worth $3,871,000. Institutional investors and hedge funds own 60.11% of the company’s stock.
Shares of Barrick Gold Corp. (NYSE:ABX) opened at 17.72 on Wednesday. The stock’s market capitalization is $20.65 billion. The firm’s 50-day moving average is $18.60 and its 200 day moving average is $18.47. Barrick Gold Corp. has a 1-year low of $6.61 and a 1-year high of $23.47.
Barrick Gold Corp. (NYSE:ABX) last announced its quarterly earnings data 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. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.02 billion. Barrick Gold Corp. had a positive return on equity of 4.95% and a negative net margin of 33.33%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) earnings per share. On average, analysts expect that Barrick Gold Corp. will post $0.69 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, August 29th. Barrick Gold Corp.’s dividend payout ratio (DPR) is presently -3.29%.
Barrick Gold Corp. Company Profile
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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