Barrick Gold (ABX) Rating Reiterated by Desjardins
Barrick Gold (NYSE:ABX) (TSE:ABX)‘s stock had its “hold” rating reiterated by equities research analysts at Desjardins in a report released on Monday. Desjardins also issued estimates for Barrick Gold’s FY2017 earnings at $0.75 EPS, FY2018 earnings at $0.79 EPS, FY2019 earnings at $0.74 EPS, FY2020 earnings at $0.58 EPS and FY2021 earnings at $0.34 EPS.
Other research analysts have also recently issued reports about the company. Jefferies Group set a $20.00 target price on Barrick Gold and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Berenberg Bank reissued a “hold” rating on shares of Barrick Gold in a research report on Tuesday, October 24th. Royal Bank of Canada set a $21.00 price objective on Barrick Gold and gave the company a “buy” rating in a research report on Monday, October 30th. CSFB lowered their price objective on Barrick Gold from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, October 26th. Finally, TD Securities set a $20.00 price objective on Barrick Gold and gave the company a “hold” rating in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $18.69.
Shares of Barrick Gold (ABX) opened at $13.64 on Monday. The company has a current ratio of 2.73, a quick ratio of 1.56 and a debt-to-equity ratio of 0.55. Barrick Gold has a 12-month low of $13.28 and a 12-month high of $20.78. The company has a market capitalization of $15,912.82, a price-to-earnings ratio of 18.45, a P/E/G ratio of 9.04 and a beta of -0.42.
Barrick Gold (NYSE:ABX) (TSE:ABX) last announced its earnings results on Wednesday, October 25th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Barrick Gold had a return on equity of 7.73% and a net margin of 25.72%. The company’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. research analysts predict that Barrick Gold will post 0.76 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC increased its position in shares of Barrick Gold by 1.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 35,354,891 shares of the basic materials company’s stock valued at $568,860,000 after purchasing an additional 546,654 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Barrick Gold by 41.7% during the 2nd quarter. Franklin Resources Inc. now owns 34,981,711 shares of the basic materials company’s stock valued at $556,558,000 after acquiring an additional 10,291,973 shares during the period. Flossbach Von Storch AG boosted its holdings in Barrick Gold by 8.1% during the 3rd quarter. Flossbach Von Storch AG now owns 28,677,838 shares of the basic materials company’s stock valued at $461,427,000 after acquiring an additional 2,148,150 shares during the period. Vanguard Group Inc. boosted its holdings in Barrick Gold by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 27,435,727 shares of the basic materials company’s stock valued at $436,503,000 after acquiring an additional 1,190,761 shares during the period. Finally, TD Asset Management Inc. boosted its holdings in Barrick Gold by 2.7% during the 3rd quarter. TD Asset Management Inc. now owns 10,973,196 shares of the basic materials company’s stock valued at $176,181,000 after acquiring an additional 283,770 shares during the period. 55.72% of the stock is currently owned by hedge funds and other institutional investors.
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About Barrick Gold
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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