BMO Capital Markets set a $13.00 price objective on Barrick Gold (NYSE:ABX) (TSE:ABX) in a report published on Wednesday morning. The brokerage currently has a hold rating on the basic materials company’s stock.
Other equities research analysts have also recently issued reports about the stock. Citigroup raised shares of Barrick Gold from a neutral rating to a buy rating and set a $14.00 price objective on the stock in a research note on Tuesday, September 25th. TD Securities raised shares of Barrick Gold from a hold rating to a buy rating and increased their price objective for the company from $13.50 to $14.00 in a research note on Tuesday, September 25th. Deutsche Bank set a $15.00 price objective on shares of Barrick Gold and gave the company a buy rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised shares of Barrick Gold from a strong sell rating to a hold rating in a research note on Tuesday, July 3rd. Finally, Scotiabank reissued a hold rating and issued a $16.00 price objective on shares of Barrick Gold in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $15.14.
NYSE:ABX opened at $12.47 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.22 and a current ratio of 2.12. Barrick Gold has a fifty-two week low of $9.53 and a fifty-two week high of $16.83. The firm has a market cap of $12.93 billion, a PE ratio of 16.63, a P/E/G ratio of 9.05 and a beta of -0.37.
Barrick Gold (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings data on Wednesday, July 25th. The basic materials company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.05). The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.74 billion. Barrick Gold had a negative net margin of 3.38% and a positive return on equity of 6.13%. Barrick Gold’s revenue was down 20.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. As a group, equities research analysts expect that Barrick Gold will post 0.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, August 31st were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, August 30th. This represents a $0.12 annualized dividend and a dividend yield of 0.96%. Barrick Gold’s dividend payout ratio is currently 16.00%.
Institutional investors have recently added to or reduced their stakes in the business. Stevens Capital Management LP acquired a new stake in shares of Barrick Gold during the 2nd quarter worth about $1,582,000. BlueMountain Capital Management LLC acquired a new stake in shares of Barrick Gold during the 2nd quarter worth about $790,000. Bridgewater Associates LP boosted its stake in shares of Barrick Gold by 221.5% during the 2nd quarter. Bridgewater Associates LP now owns 507,501 shares of the basic materials company’s stock worth $6,663,000 after purchasing an additional 349,625 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Barrick Gold by 4.6% during the 2nd quarter. State of Wisconsin Investment Board now owns 940,726 shares of the basic materials company’s stock worth $12,350,000 after purchasing an additional 41,140 shares during the last quarter. Finally, Cheviot Value Management LLC acquired a new stake in shares of Barrick Gold during the 2nd quarter worth about $688,000. 52.65% of the stock is currently owned by institutional investors.
About Barrick Gold
Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.
Further Reading: Does the discount rate affect the economy?
Receive News & Ratings for Barrick Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barrick Gold and related companies with MarketBeat.com's FREE daily email newsletter.