Barrick Gold Corp. (NYSE:ABX) – Stock analysts at Jefferies Group cut their FY2016 earnings per share (EPS) estimates for Barrick Gold Corp. in a report released on Friday. Jefferies Group analyst C. Lafemina now expects that the brokerage will post earnings of $0.53 per share for the year, down from their prior forecast of $0.62. Jefferies Group currently has a “Buy” rating and a $26.00 target price on the stock.

Several other equities analysts also recently issued reports on ABX. Goldman Sachs Group Inc. restated a “conviction-buy” rating and set a $27.00 price objective (up previously from $23.00) on shares of Barrick Gold Corp. in a report on Monday, June 27th. Credit Suisse Group AG restated a “buy” rating and set a $17.00 price objective on shares of Barrick Gold Corp. in a report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, July 12th. Vetr upgraded shares of Barrick Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $23.66 price objective on the stock in a report on Wednesday, July 20th. Finally, TD Securities restated a “buy” rating and set a $26.00 price objective on shares of Barrick Gold Corp. in a report on Monday, July 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $21.19.

Earnings History and Estimates for Barrick Gold Corp. (NYSE:ABX)

Shares of Barrick Gold Corp. (NYSE:ABX) opened at 16.37 on Monday. The stock’s market cap is $19.08 billion. Barrick Gold Corp. has a 52 week low of $6.90 and a 52 week high of $23.47. The stock has a 50 day moving average of $17.19 and a 200-day moving average of $18.66.

Barrick Gold Corp. (NYSE:ABX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. Barrick Gold Corp. had a negative net margin of 33.33% and a positive return on equity of 4.95%. The business earned $2.01 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the company posted ($0.01) EPS. Barrick Gold Corp.’s revenue for the quarter was down 9.8% on a year-over-year basis.

Hedge funds have recently modified their holdings of the stock. Cohen & Steers Inc. boosted its stake in shares of Barrick Gold Corp. by 32,393.7% in the second quarter. Cohen & Steers Inc. now owns 43,332,308 shares of the company’s stock valued at $1,599,829,000 after buying an additional 43,198,952 shares during the last quarter. Orbis Allan Gray Ltd purchased a new position in shares of Barrick Gold Corp. during the first quarter valued at about $414,288,000. FMR LLC raised its position in shares of Barrick Gold Corp. by 235.7% in the second quarter. FMR LLC now owns 25,629,021 shares of the company’s stock valued at $547,117,000 after buying an additional 17,994,004 shares during the period. Van ECK Associates Corp raised its position in shares of Barrick Gold Corp. by 20.0% in the second quarter. Van ECK Associates Corp now owns 59,726,542 shares of the company’s stock valued at $1,275,162,000 after buying an additional 9,942,301 shares during the period. Finally, BlackRock Group LTD raised its position in shares of Barrick Gold Corp. by 29.3% in the second quarter. BlackRock Group LTD now owns 29,442,014 shares of the company’s stock valued at $628,587,000 after buying an additional 6,663,024 shares during the period. Institutional investors own 60.13% 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.

5 Day Chart for NYSE:ABX

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