Barrick Gold Corp. (ABX) Stock Rating Upgraded by Deutsche Bank AG
Barrick Gold Corp. (NYSE:ABX) was upgraded by stock analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating in a research note issued on Monday.
A number of other equities research analysts have also commented on the company. Zacks Investment Research upgraded Barrick Gold Corp. from a “hold” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, September 28th. Berenberg Bank assumed coverage on Barrick Gold Corp. in a research report on Wednesday, September 7th. They issued a “sell” rating and a $15.20 target price on the stock. RBC Capital Markets reiterated a “sector perform” rating on shares of Barrick Gold Corp. in a research report on Sunday, September 4th. Vetr raised Barrick Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $24.15 price target for the company in a report on Monday, August 22nd. Finally, Citigroup Inc. reissued a “buy” rating on shares of Barrick Gold Corp. in a report on Thursday, August 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $21.29.
Shares of Barrick Gold Corp. (NYSE:ABX) opened at 17.72 on Monday. The firm’s 50-day moving average is $18.60 and its 200-day moving average is $18.47. The stock’s market capitalization is $20.65 billion. Barrick Gold Corp. has a one year low of $6.61 and a one year high of $23.47.
Barrick Gold Corp. (NYSE:ABX) last issued its earnings results on Wednesday, July 27th. The company reported $0.14 EPS for the quarter, missing the Zacks’ 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. Barrick Gold Corp. had a negative net margin of 33.33% and a positive return on equity of 4.95%. Barrick Gold Corp.’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. Equities research analysts forecast that Barrick Gold Corp. will post $0.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, August 29th. Barrick Gold Corp.’s dividend payout ratio is presently -3.29%.
Institutional investors have recently added to or reduced their stakes in the company. First New York Securities LLC NY acquired a new position in Barrick Gold Corp. during the second quarter worth $117,000. Dubuque Bank & Trust Co. acquired a new position in Barrick Gold Corp. during the second quarter worth $141,000. CENTRAL TRUST Co boosted its position in Barrick Gold Corp. by 5.3% in the second quarter. CENTRAL TRUST Co now owns 7,786 shares of the company’s stock worth $166,000 after buying an additional 392 shares in the last quarter. Fruth Investment Management acquired a new position in Barrick Gold Corp. during the second quarter worth $210,000. Finally, Bourgeon Capital Management LLC acquired a new position in Barrick Gold Corp. during the second quarter worth $213,000. Institutional investors and hedge funds own 60.11% of the company’s stock.
About Barrick Gold Corp.
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.
Receive News & Stock Ratings for Barrick Gold Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barrick Gold Corp. and related stocks with our FREE daily email newsletter.