Barrick Gold Corporation (ABX) Stock Rating Lowered by Royal Bank Of Canada
Royal Bank Of Canada cut shares of Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) from an outperform rating to a sector perform rating in a research note published on Wednesday, Marketbeat reports. Royal Bank Of Canada currently has $18.00 target price on the basic materials company’s stock, down from their previous target price of $21.00.
ABX has been the topic of several other research reports. BMO Capital Markets set a $18.00 price target on shares of Barrick Gold Corporation and gave the stock a hold rating in a research report on Wednesday, August 23rd. Jefferies Group LLC reissued a buy rating and set a $20.00 price target on shares of Barrick Gold Corporation in a research report on Thursday, September 21st. Zacks Investment Research cut shares of Barrick Gold Corporation from a hold rating to a sell rating in a research report on Tuesday, July 11th. Berenberg Bank reissued a hold rating on shares of Barrick Gold Corporation in a research report on Tuesday, October 24th. Finally, Credit Suisse Group reissued a buy rating and set a $22.00 price target on shares of Barrick Gold Corporation in a research report on Sunday, September 24th. Thirteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Barrick Gold Corporation currently has a consensus rating of Hold and an average price target of $19.36.
Barrick Gold Corporation (NYSE ABX) traded down $0.10 during trading on Wednesday, reaching $14.00. The company had a trading volume of 12,157,870 shares, compared to its average volume of 10,040,338. Barrick Gold Corporation has a 1 year low of $13.81 and a 1 year high of $20.78. The company has a current ratio of 2.73, a quick ratio of 2.33 and a debt-to-equity ratio of 0.55. The stock has a market cap of $16,320.84, a PE ratio of 18.92, a PEG ratio of 9.32 and a beta of -0.39.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last posted its earnings results on Wednesday, October 25th. The basic materials company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.01). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.02 billion. Barrick Gold Corporation had a net margin of 25.72% and a return on equity of 7.73%. The company’s quarterly revenue was down 15.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS. equities research analysts predict that Barrick Gold Corporation will post 0.75 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $0.12 annualized dividend and a yield of 0.86%. Barrick Gold Corporation’s dividend payout ratio is currently 6.45%.
Institutional investors have recently made changes to their positions in the business. CNA Financial Corp increased its stake in Barrick Gold Corporation by 17.1% in the second quarter. CNA Financial Corp now owns 150,595 shares of the basic materials company’s stock valued at $2,396,000 after purchasing an additional 21,955 shares during the last quarter. Sanders Morris Harris LLC increased its stake in Barrick Gold Corporation by 9.7% in the third quarter. Sanders Morris Harris LLC now owns 214,000 shares of the basic materials company’s stock valued at $3,444,000 after purchasing an additional 19,000 shares during the last quarter. Rothschild Investment Corp IL increased its stake in Barrick Gold Corporation by 148.6% in the second quarter. Rothschild Investment Corp IL now owns 49,775 shares of the basic materials company’s stock valued at $792,000 after purchasing an additional 29,750 shares during the last quarter. River & Mercantile Asset Management LLP purchased a new position in Barrick Gold Corporation in the second quarter valued at approximately $1,907,000. Finally, Public Sector Pension investment Board increased its stake in Barrick Gold Corporation by 23.4% in the second quarter. Public Sector Pension investment Board now owns 2,309,050 shares of the basic materials company’s stock valued at $36,679,000 after purchasing an additional 437,900 shares during the last quarter. Institutional investors own 56.18% of the company’s stock.
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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