Research Analysts Issue Forecasts for Barrick Gold Corp’s FY2017 Earnings (ABX)
Barrick Gold Corp (NYSE:ABX) (TSE:ABX) – Analysts at Desjardins issued their FY2017 earnings estimates for shares of Barrick Gold in a note issued to investors on Monday. Desjardins analyst J. Wolfson forecasts that the basic materials company will post earnings of $0.75 per share for the year. Desjardins has a “Hold” rating on the stock. Desjardins also issued estimates for Barrick Gold’s 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.
Barrick Gold (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01). Barrick Gold had a return on equity of 7.73% and a net margin of 25.72%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the company earned $0.24 EPS. Barrick Gold’s revenue for the quarter was down 15.8% on a year-over-year basis.
ABX has been the topic of several other research reports. Royal Bank of Canada reiterated an “outperform” rating on shares of Barrick Gold in a research note on Thursday, September 7th. BMO Capital Markets set a $18.00 price objective on shares of Barrick Gold and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Jefferies Group reiterated a “buy” rating and issued a $20.00 price objective on shares of Barrick Gold in a research note on Thursday, September 21st. TD Securities lowered their price objective on shares of Barrick Gold from $20.00 to $17.00 and set a “hold” rating on the stock in a research note on Monday, November 6th. Finally, Citigroup cut shares of Barrick Gold from a “buy” rating to a “sell” rating and set a $13.00 price objective on the stock. in a research note on Thursday, November 30th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.69.
Barrick Gold (NYSE:ABX) opened at $14.17 on Wednesday. Barrick Gold has a one year low of $13.28 and a one year high of $20.78. The company has a quick ratio of 1.56, a current ratio of 2.73 and a debt-to-equity ratio of 0.55. The firm has a market cap of $16,449.07, a P/E ratio of 19.07, a PEG ratio of 9.35 and a beta of -0.42.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP raised its stake in Barrick Gold by 125.2% during the 3rd quarter. GSA Capital Partners LLP now owns 64,241 shares of the basic materials company’s stock worth $1,034,000 after acquiring an additional 35,715 shares during the period. Virtu Financial LLC raised its position in shares of Barrick Gold by 182.2% during the third quarter. Virtu Financial LLC now owns 80,400 shares of the basic materials company’s stock valued at $728,000 after buying an additional 51,908 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Barrick Gold by 44.6% during the third quarter. Point72 Asset Management L.P. now owns 637,800 shares of the basic materials company’s stock valued at $10,262,000 after buying an additional 196,700 shares during the last quarter. Laurel Wealth Advisors Inc. bought a new stake in shares of Barrick Gold during the third quarter valued at approximately $314,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Barrick Gold during the third quarter valued at approximately $187,000. Institutional investors own 55.72% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, November 29th. Barrick Gold’s payout ratio is 6.45%.
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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