ValuEngine upgraded shares of Barrick Gold (NYSE:ABX) (TSE:ABX) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.
Other analysts have also issued research reports about the company. TD Securities raised Barrick Gold from a hold rating to a buy rating and lifted their price objective for the stock from $13.50 to $14.00 in a report on Tuesday, September 25th. Citigroup raised Barrick Gold from a neutral rating to a buy rating and set a $14.00 price objective for the company in a report on Tuesday, September 25th. Deutsche Bank set a $15.00 price objective on Barrick Gold and gave the stock a buy rating in a report on Tuesday, October 2nd. Jefferies Financial Group lowered Barrick Gold from a buy rating to a hold rating and cut their price objective for the stock from $17.00 to $11.00 in a report on Monday, August 6th. Finally, Scotiabank reaffirmed a hold rating and issued a $16.00 price objective on shares of Barrick Gold in a report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $14.81.
Shares of Barrick Gold stock traded down $0.17 on Thursday, reaching $13.17. The company’s stock had a trading volume of 12,970,244 shares, compared to its average volume of 13,336,412. The firm has a market cap of $14.84 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 15.77 and a beta of -0.37. Barrick Gold has a 52 week low of $9.53 and a 52 week high of $15.52. The company has a current ratio of 2.65, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53.
Barrick Gold (NYSE:ABX) (TSE:ABX) last posted its earnings results on Wednesday, October 24th. The basic materials company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. Barrick Gold had a positive return on equity of 5.38% and a negative net margin of 8.75%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the company earned $0.16 EPS. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. On average, equities research analysts forecast that Barrick Gold will post 0.41 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, November 29th. Barrick Gold’s dividend payout ratio is presently 16.00%.
Large investors have recently added to or reduced their stakes in the business. Stevens Capital Management LP bought a new stake in Barrick Gold during the second quarter valued at about $1,582,000. BlueMountain Capital Management LLC bought a new stake in Barrick Gold during the second quarter valued at about $790,000. Nomura Holdings Inc. grew its holdings in Barrick Gold by 351.6% during the second quarter. Nomura Holdings Inc. now owns 184,254 shares of the basic materials company’s stock valued at $2,420,000 after purchasing an additional 257,484 shares during the period. Ronna Sue Cohen bought a new stake in Barrick Gold during the third quarter valued at about $222,000. Finally, Bridgewater Associates LP grew its holdings in Barrick Gold by 221.5% during the second quarter. Bridgewater Associates LP now owns 507,501 shares of the basic materials company’s stock valued at $6,663,000 after purchasing an additional 349,625 shares during the period. 52.19% of the stock is owned by institutional investors and hedge funds.
Barrick Gold Company Profile
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 ZaldÃvar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.
Read More: How accurate is the Rule of 72?
To view ValuEngine’s full report, visit ValuEngine’s official website.
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.