Desjardins restated their average rating on shares of Barrick Gold (NYSE:ABX) (TSE:ABX) in a report published on Monday. The firm currently has a $22.00 price target on the basic materials company’s stock.
Several other research firms also recently issued reports on ABX. TD Securities upped their price target on Barrick Gold from $15.00 to $15.50 and gave the stock a buy rating in a research note on Wednesday, October 31st. Royal Bank of Canada increased their target price on Barrick Gold from $14.00 to $16.00 and gave the company a sector perform rating in a research note on Wednesday, October 24th. Zacks Investment Research downgraded Barrick Gold from a hold rating to a sell rating in a research note on Tuesday, October 16th. CIBC restated a sector outperform rating on shares of Barrick Gold in a research note on Thursday, January 3rd. Finally, ValuEngine upgraded Barrick Gold from a sell rating to a hold rating in a research note on Friday, October 12th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $15.58.
Shares of ABX traded down $0.09 during trading hours on Monday, hitting $12.36. 12,474,300 shares of the company were exchanged, compared to its average volume of 19,239,016. The company has a market cap of $15.81 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 14.29 and a beta of -0.54. Barrick Gold has a 52 week low of $9.53 and a 52 week high of $15.52. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 2.65.
Barrick Gold (NYSE:ABX) (TSE:ABX) last released its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.80 billion. Barrick Gold had a positive return on equity of 5.38% and a negative net margin of 8.75%. The firm’s revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 EPS. On average, research analysts predict that Barrick Gold will post 0.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 14th. Shareholders of record on Friday, December 28th will be issued a $0.07 dividend. This is a boost from Barrick Gold’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, December 27th. This represents a $0.28 annualized dividend and a yield of 2.27%. Barrick Gold’s dividend payout ratio is 37.33%.
Institutional investors have recently bought and sold shares of the business. Capital International Inc. CA raised its holdings in Barrick Gold by 27.8% in the 3rd quarter. Capital International Inc. CA now owns 141,953 shares of the basic materials company’s stock valued at $1,573,000 after acquiring an additional 30,853 shares in the last quarter. BlackRock Inc. raised its holdings in Barrick Gold by 291.7% in the 3rd quarter. BlackRock Inc. now owns 13,090,324 shares of the basic materials company’s stock valued at $145,041,000 after acquiring an additional 9,748,052 shares in the last quarter. Capital International Sarl raised its holdings in Barrick Gold by 5.5% in the 3rd quarter. Capital International Sarl now owns 2,119,100 shares of the basic materials company’s stock valued at $23,480,000 after acquiring an additional 110,700 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in Barrick Gold in the 2nd quarter valued at approximately $790,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in Barrick Gold by 107.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 749,299 shares of the basic materials company’s stock valued at $7,839,000 after acquiring an additional 388,300 shares in the last quarter. 56.73% of the stock is owned by hedge funds and other 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 ZaldÃvar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.
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