Berenberg Bank reiterated their hold rating on shares of Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) in a report released on Tuesday, October 24th.
A number of other analysts have also commented on ABX. Jefferies Group LLC set a $20.00 target price on Barrick Gold Corporation and gave the company a buy rating in a research report on Tuesday, August 15th. BMO Capital Markets set a $18.00 target price on Barrick Gold Corporation and gave the company a hold rating in a research report on Wednesday, August 23rd. BidaskClub raised Barrick Gold Corporation from a sell rating to a hold rating in a research report on Monday, July 31st. Zacks Investment Research raised Barrick Gold Corporation from a sell rating to a hold rating in a research report on Friday, July 21st. Finally, Citigroup Inc. reaffirmed a buy rating on shares of Barrick Gold Corporation in a research report on Wednesday, September 6th. Thirteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Barrick Gold Corporation has an average rating of Hold and an average target price of $19.13.
Shares of Barrick Gold Corporation (NYSE ABX) traded down $0.13 during trading hours on Tuesday, hitting $13.98. The stock had a trading volume of 7,187,100 shares, compared to its average volume of 12,445,591. Barrick Gold Corporation has a 12 month low of $13.80 and a 12 month high of $20.78. The firm has a market cap of $16,449.07, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 9.41 and a beta of -0.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.73 and a quick ratio of 1.56.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last issued its earnings results on Wednesday, October 25th. The basic materials company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Barrick Gold Corporation had a net margin of 25.72% and a return on equity of 7.73%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was down 15.8% on a year-over-year basis. research analysts predict that Barrick Gold Corporation will post 0.75 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Wednesday, November 29th. Barrick Gold Corporation’s dividend payout ratio is presently 6.45%.
Several hedge funds have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in Barrick Gold Corporation by 201.8% in the first quarter. Ameriprise Financial Inc. now owns 45,655 shares of the basic materials company’s stock valued at $867,000 after purchasing an additional 30,526 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Barrick Gold Corporation by 0.7% in the first quarter. PNC Financial Services Group Inc. now owns 47,015 shares of the basic materials company’s stock valued at $893,000 after purchasing an additional 328 shares during the last quarter. Ngam Advisors L.P. lifted its stake in Barrick Gold Corporation by 18.8% in the first quarter. Ngam Advisors L.P. now owns 26,665 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 4,225 shares during the last quarter. Vanguard Group Inc. lifted its stake in Barrick Gold Corporation by 4.2% in the first quarter. Vanguard Group Inc. now owns 26,244,966 shares of the basic materials company’s stock valued at $498,391,000 after purchasing an additional 1,052,610 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Barrick Gold Corporation by 7.2% in the first quarter. Geode Capital Management LLC now owns 581,148 shares of the basic materials company’s stock valued at $10,973,000 after purchasing an additional 38,880 shares during the last quarter. 56.13% of the stock is owned by institutional investors.
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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