Barrick Gold Corporation (ABX) PT Set at $18.00 by BMO Capital Markets
BMO Capital Markets set a $18.00 price objective on Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) in a report released on Wednesday morning. The brokerage currently has a hold rating on the basic materials company’s stock.
Other equities research analysts have also recently issued reports about the company. TD Securities reaffirmed a hold rating on shares of Barrick Gold Corporation in a report on Sunday, May 28th. Royal Bank Of Canada reaffirmed a buy rating and set a $21.00 price target on shares of Barrick Gold Corporation in a report on Tuesday, July 18th. Jefferies Group LLC set a $20.00 price target on Barrick Gold Corporation and gave the company a buy rating in a report on Tuesday, August 15th. Raymond James Financial, Inc. reaffirmed a market perform rating and set a $19.00 price target on shares of Barrick Gold Corporation in a report on Thursday, June 15th. Finally, Zacks Investment Research cut Barrick Gold Corporation from a hold rating to a sell rating in a report on Tuesday, July 11th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $20.59.
Shares of Barrick Gold Corporation (NYSE ABX) opened at 17.14 on Wednesday. The firm has a market capitalization of $19.99 billion, a P/E ratio of 8.49 and a beta of -0.23. The stock has a 50 day moving average price of $16.50 and a 200 day moving average price of $17.45. Barrick Gold Corporation has a 12-month low of $13.81 and a 12-month high of $20.78.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last issued its earnings results on Wednesday, July 26th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.05. Barrick Gold Corporation had a return on equity of 8.91% and a net margin of 26.95%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the firm posted $0.14 EPS. Barrick Gold Corporation’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Barrick Gold Corporation will post $0.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.70%. Barrick Gold Corporation’s dividend payout ratio (DPR) is currently 5.94%.
Several large investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. raised its position in Barrick Gold Corporation by 9.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 5,608 shares of the basic materials company’s stock valued at $106,000 after buying an additional 506 shares in the last quarter. FNY Managed Accounts LLC bought a new position in Barrick Gold Corporation during the first quarter valued at about $116,000. Advisors Asset Management Inc. raised its position in Barrick Gold Corporation by 116.4% in the second quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock valued at $105,000 after buying an additional 3,543 shares in the last quarter. Capital Innovations LLC bought a new position in Barrick Gold Corporation during the first quarter valued at about $253,000. Finally, FNY Partners Fund LP bought a new position in Barrick Gold Corporation during the second quarter valued at about $159,000. 58.68% of the stock is owned by institutional investors.
About Barrick Gold Corporation
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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