Barrick Gold (NYSE:ABX) Downgraded by Citigroup to “Sell”

Barrick Gold (NYSE:ABX) (TSE:ABX) was downgraded by analysts at Citigroup from a “buy” rating to a “sell” rating in a research report issued to clients and investors on Thursday, November 30th, Marketbeat Ratings reports. They presently have a $13.00 price objective on the basic materials company’s stock. Citigroup’s price objective suggests a potential downside of 7.54% from the company’s current price.

Several other equities research analysts have also commented on the stock. TheStreet lowered shares of Barrick Gold from a “b-” rating to a “c” rating in a research report on Thursday, October 26th. Royal Bank of Canada reiterated an “outperform” rating on shares of Barrick Gold in a research note on Friday, August 18th. Berenberg Bank reiterated a “hold” rating on shares of Barrick Gold in a research note on Tuesday, October 24th. TD Securities cut their price objective on Barrick Gold from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, November 6th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $22.00 price objective on shares of Barrick Gold in a research note on Sunday, September 24th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company’s stock. Barrick Gold has a consensus rating of “Hold” and a consensus target price of $18.69.

Barrick Gold (ABX) opened at $14.06 on Thursday. Barrick Gold has a 52-week low of $13.28 and a 52-week high of $20.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.73 and a quick ratio of 1.56. The firm has a market capitalization of $16,397.66, a PE ratio of 19.00, a price-to-earnings-growth ratio of 9.32 and a beta of -0.42.

Barrick Gold (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 Thomson Reuters’ consensus estimate of $0.17 by ($0.01). Barrick Gold had a net margin of 25.72% and a return on equity of 7.73%. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the company earned $0.24 EPS. Barrick Gold’s revenue for the quarter was down 15.8% compared to the same quarter last year. equities analysts forecast that Barrick Gold will post 0.75 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of ABX. State Street Corp raised its holdings in shares of Barrick Gold by 4.3% during the 1st quarter. State Street Corp now owns 862,604 shares of the basic materials company’s stock worth $16,381,000 after acquiring an additional 35,791 shares in the last quarter. BB&T Corp raised its holdings in shares of Barrick Gold by 3.2% during the 2nd quarter. BB&T Corp now owns 15,265 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 468 shares in the last quarter. Harbour Capital Advisors LLC raised its holdings in Barrick Gold by 1,491.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 47,730 shares of the basic materials company’s stock valued at $3,000,000 after buying an additional 44,730 shares during the period. Rothschild Asset Management Inc. raised its holdings in Barrick Gold by 12.2% during the 2nd quarter. Rothschild Asset Management Inc. now owns 36,748 shares of the basic materials company’s stock valued at $758,000 after buying an additional 3,991 shares during the period. Finally, Edge Wealth Management LLC raised its holdings in Barrick Gold by 219.5% during the 2nd quarter. Edge Wealth Management LLC now owns 32,270 shares of the basic materials company’s stock valued at $511,000 after buying an additional 22,170 shares during the period. 55.72% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Barrick Gold (NYSE:ABX)

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