Barrick Gold Corporation (ABX) Receives $21.77 Average PT from Brokerages
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) has been given an average rating of “Hold” by the twenty-one research firms that are covering the stock. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $21.64.
Several equities research analysts have recently weighed in on the stock. Mackie upgraded shares of Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research report on Monday, October 31st. RBC Capital Markets reiterated a “sector perform” rating on shares of Barrick Gold Corporation in a research report on Wednesday, October 26th. Zacks Investment Research cut shares of Barrick Gold Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday. TD Securities cut shares of Barrick Gold Corporation from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $25.00 to $18.00 in a research report on Wednesday, December 21st. Finally, Barclays PLC reiterated a “hold” rating and set a $20.00 price objective on shares of Barrick Gold Corporation in a research report on Wednesday.
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A number of hedge funds have recently bought and sold shares of the company. Cohen & Steers Inc. increased its stake in Barrick Gold Corporation by 32,393.7% in the second quarter. Cohen & Steers Inc. now owns 43,332,308 shares of the company’s stock worth $1,599,829,000 after buying an additional 43,198,952 shares during the period. FMR LLC increased its stake in Barrick Gold Corporation by 235.7% in the second quarter. FMR LLC now owns 25,629,021 shares of the company’s stock worth $547,117,000 after buying an additional 17,994,004 shares during the period. Van ECK Associates Corp increased its position in Barrick Gold Corporation 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 last quarter. Majedie Asset Management Ltd increased its position in Barrick Gold Corporation by 165.3% in the third quarter. Majedie Asset Management Ltd now owns 10,811,567 shares of the company’s stock valued at $191,581,000 after buying an additional 6,736,764 shares during the last quarter. Finally, BlackRock Group LTD increased its position in Barrick Gold Corporation 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 last quarter. Institutional investors and hedge funds own 58.22% of the company’s stock.
Shares of Barrick Gold Corporation (NYSE:ABX) opened at 16.87 on Monday. The firm’s market capitalization is $19.66 billion. The firm has a 50-day moving average of $15.56 and a 200 day moving average of $17.91. Barrick Gold Corporation has a 52 week low of $7.39 and a 52 week high of $23.47.
Barrick Gold Corporation (NYSE:ABX) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Barrick Gold Corporation had a negative net margin of 28.22% and a positive return on equity of 6.81%. The firm earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period in the prior year, the company posted $0.11 EPS. The company’s revenue was down .6% on a year-over-year basis. On average, equities analysts predict that Barrick Gold Corporation will post $0.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Wednesday, November 30th were issued a dividend of $0.02 per share. The ex-dividend date was Monday, November 28th. This represents a $0.08 dividend on an annualized basis and a yield of 0.47%. Barrick Gold Corporation’s dividend payout ratio (DPR) is presently -3.90%.
Barrick Gold Corporation 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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