Jefferies Group Comments on Barrick Gold Corp’s FY2017 Earnings (ABX)
Barrick Gold Corp (TSE:ABX) (NYSE:ABX) – Equities research analysts at Jefferies Group dropped their FY2017 earnings per share (EPS) estimates for shares of Barrick Gold in a research note issued on Friday. Jefferies Group analyst C. Lafemina now anticipates that the company will post earnings per share of $0.99 for the year, down from their previous estimate of $1.01.
A number of other research analysts have also recently issued reports on ABX. Canaccord Genuity cut their target price on shares of Barrick Gold from C$30.00 to C$27.50 in a research note on Friday, September 29th. BMO Capital Markets reiterated a “market perform” rating and issued a C$18.00 target price on shares of Barrick Gold in a research note on Friday, October 13th. CSFB cut their target price on shares of Barrick Gold to C$24.00 and set a “neutral” rating for the company in a research note on Thursday, October 26th. Royal Bank of Canada cut shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$21.00 to C$18.00 in a research note on Wednesday, November 1st. Finally, TD Securities cut their target price on shares of Barrick Gold to C$22.00 and set a “hold” rating for the company in a research note on Monday, November 6th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of C$22.43.
Barrick Gold (TSE:ABX) opened at C$18.14 on Monday. Barrick Gold has a one year low of C$17.07 and a one year high of C$27.19. The stock has a market cap of $21,160.00, a P/E ratio of 7.82 and a beta of -0.88.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a $0.037 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.82%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.03. Barrick Gold’s dividend payout ratio (DPR) is currently 4.74%.
In related news, Director Kelvin Paul Michael Dushnisky purchased 56,733 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was acquired at an average price of C$17.97 per share, with a total value of C$1,019,492.01. Also, Director Graham G. Clow purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was bought at an average cost of C$14.44 per share, with a total value of C$72,200.00. In the last three months, insiders purchased 91,535 shares of company stock valued at $1,617,559.
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Barrick Gold Company Profile
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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