Goldman Sachs Group Inc. reaffirmed their buy rating on shares of Barrick Gold Corp. (NYSE:ABX) in a research report released on Wednesday morning. They currently have a $27.00 price objective on the stock.
“Conviction Buy,” the firm’s analyst wrote.
ABX has been the topic of a number of other research reports. Vetr raised Barrick Gold Corp. from a buy rating to a strong-buy rating and set a $23.66 price objective on the stock in a research note on Wednesday, July 20th. Zacks Investment Research raised Barrick Gold Corp. from a hold rating to a strong-buy rating and set a $20.00 price target on the stock in a research note on Tuesday, October 4th. Jefferies Group raised Barrick Gold Corp. from a hold rating to a buy rating and raised their price target for the stock from $21.08 to $26.00 in a research note on Thursday, July 14th. Deutsche Bank AG raised Barrick Gold Corp. from a hold rating to a buy rating and set a $22.00 price target on the stock in a research note on Monday, October 3rd. Finally, TD Securities reissued a buy rating and issued a $26.00 price target on shares of Barrick Gold Corp. in a research note on Monday, July 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $21.29.
Barrick Gold Corp. (NYSE:ABX) opened at 15.58 on Wednesday. The firm’s market capitalization is $18.16 billion. The stock’s 50 day moving average price is $17.71 and its 200-day moving average price is $18.60. Barrick Gold Corp. has a 12 month low of $6.90 and a 12 month high of $23.47.
Barrick Gold Corp. (NYSE:ABX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.02 billion. Barrick Gold Corp. had a negative net margin of 33.33% and a positive return on equity of 4.95%. The firm’s revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) EPS. On average, analysts forecast that Barrick Gold Corp. will post $0.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.08 dividend on an annualized basis and a yield of 0.51%. Barrick Gold Corp.’s dividend payout ratio is currently -3.29%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential PLC raised its position in Barrick Gold Corp. by 235.2% in the first quarter. Prudential PLC now owns 5,009,788 shares of the company’s stock worth $68,033,000 after buying an additional 3,515,100 shares in the last quarter. Quadrature Capital Ltd bought a new position in Barrick Gold Corp. during the first quarter worth about $1,525,000. Edmond DE Rothschild Holding S.A. raised its position in Barrick Gold Corp. by 54.8% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 213,280 shares of the company’s stock worth $2,901,000 after buying an additional 75,480 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Barrick Gold Corp. by 2,038.7% in the first quarter. Canada Pension Plan Investment Board now owns 156,060 shares of the company’s stock worth $2,128,000 after buying an additional 148,763 shares in the last quarter. Finally, Investec Asset Management LTD raised its position in Barrick Gold Corp. by 16.2% in the first quarter. Investec Asset Management LTD now owns 3,322,278 shares of the company’s stock worth $45,176,000 after buying an additional 464,359 shares in the last quarter. Institutional investors and hedge funds own 60.11% of the company’s stock.
Barrick Gold Corp. Company Profile
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. The Company produces copper, principally from its Zaldivar joint venture and Lumwana mine, and holds other interests. Barricks’ segments include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Porgera, Kalgoorlie, Acacia Mining plc, Lumwana, Zaldivar and Pascua-Lama Project.
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