Cormark Analysts Lower Earnings Estimates for Barrick Gold Corporation (NYSE:ABX)

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) – Equities researchers at Cormark dropped their FY2017 EPS estimates for Barrick Gold Corporation in a note issued to investors on Thursday, according to Zacks Investment Research. Cormark analyst R. Gray now expects that the basic materials company will post earnings of $0.69 per share for the year, down from their prior forecast of $0.85. Cormark also issued estimates for Barrick Gold Corporation’s Q4 2017 earnings at $0.20 EPS.

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last released its quarterly 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 business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $2.02 billion. Barrick Gold Corporation 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 EPS.

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ABX has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Barrick Gold Corporation in a research report on Thursday, September 7th. BMO Capital Markets set a $18.00 price target on 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 issued a $20.00 target price on shares of Barrick Gold Corporation in a research report on Thursday, September 21st. TD Securities dropped their target price on Barrick Gold Corporation from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Monday, November 6th. Finally, Zacks Investment Research raised Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. Thirteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Barrick Gold Corporation presently has an average rating of “Hold” and an average price target of $19.13.

Barrick Gold Corporation (ABX) traded down $0.13 during midday trading on Friday, hitting $13.98. The stock had a trading volume of 7,187,100 shares, compared to its average volume of 12,445,591. The firm has a market capitalization of $16,449.07, a price-to-earnings ratio of 19.07, a P/E/G ratio of 9.41 and a beta of -0.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.56 and a current ratio of 2.73. Barrick Gold Corporation has a 52 week low of $13.80 and a 52 week high of $20.78.

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 paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.86%. Barrick Gold Corporation’s dividend payout ratio is currently 6.45%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Barrick Gold Corporation by 5.6% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 80,756 shares of the basic materials company’s stock worth $1,299,000 after acquiring an additional 4,300 shares during the period. Trexquant Investment LP boosted its stake in shares of Barrick Gold Corporation by 24.4% during the 3rd quarter. Trexquant Investment LP now owns 37,599 shares of the basic materials company’s stock worth $605,000 after acquiring an additional 7,366 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of Barrick Gold Corporation during the 3rd quarter worth approximately $1,471,000. Legal & General Group Plc boosted its stake in shares of Barrick Gold Corporation by 1.2% during the 3rd quarter. Legal & General Group Plc now owns 4,999,839 shares of the basic materials company’s stock worth $80,274,000 after acquiring an additional 60,925 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Barrick Gold Corporation by 17.4% during the 3rd quarter. Great West Life Assurance Co. Can now owns 3,312,279 shares of the basic materials company’s stock worth $53,293,000 after acquiring an additional 490,611 shares during the period. Institutional investors own 56.13% of the company’s stock.

Barrick Gold Corporation 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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Earnings History and Estimates for Barrick Gold Corporation (NYSE:ABX)

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