Deutsche Bank AG upgraded shares of Barrick Gold Corp. (NYSE:ABX) from a hold rating to a buy rating in a report released on Monday morning. Deutsche Bank AG currently has $22.00 target price on the stock.
Other equities research analysts also recently issued reports about the company. Vetr upgraded Barrick Gold Corp. from a sell rating to a buy rating and set a $21.38 target price on the stock in a research report on Thursday, June 9th. Goldman Sachs Group Inc. boosted their target price on Barrick Gold Corp. from $22.00 to $23.00 and gave the stock a buy rating in a research report on Wednesday, June 8th. Canaccord Genuity upgraded Barrick Gold Corp. from a hold rating to a buy rating in a research report on Thursday, July 28th. TD Securities reiterated a buy rating and issued a $26.00 target price on shares of Barrick Gold Corp. in a research report on Monday, July 25th. Finally, Jefferies Group upgraded Barrick Gold Corp. from a hold rating to a buy rating and boosted their target price for the stock from $21.08 to $26.00 in a research report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten 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 a consensus price target of $21.29.
Shares of Barrick Gold Corp. (NYSE:ABX) opened at 17.39 on Monday. Barrick Gold Corp. has a 12 month low of $6.90 and a 12 month high of $23.47. The company’s market capitalization is $20.27 billion. The stock has a 50 day moving average price of $18.48 and a 200-day moving average price of $18.55.
Barrick Gold Corp. (NYSE:ABX) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. The business earned $2.01 billion during the quarter, compared to the consensus estimate of $2.02 billion. Barrick Gold Corp. had a positive return on equity of 4.95% and a negative net margin of 33.33%. The business’s revenue was down 9.8% on a year-over-year basis. During the same period last year, the company earned ($0.01) EPS. Analysts expect that Barrick Gold Corp. will post $0.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.02 per share. The ex-dividend date was Monday, August 29th. This represents a $0.08 annualized dividend and a yield of 0.46%. Barrick Gold Corp.’s dividend payout ratio (DPR) is presently -3.29%.
A number of hedge funds have recently made changes to their positions in ABX. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Barrick Gold Corp. by 71.6% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 4,080,100 shares of the company’s stock valued at $112,529,000 after buying an additional 1,702,600 shares during the period. Moore Capital Management LP bought a new stake in shares of Barrick Gold Corp. during the first quarter valued at about $25,802,000. Orbis Allan Gray Ltd bought a new stake in shares of Barrick Gold Corp. during the first quarter valued at about $414,288,000. Mckinley Capital Management LLC Delaware bought a new stake in shares of Barrick Gold Corp. during the second quarter valued at about $1,906,000. Finally, AMP Capital Investors Ltd boosted its stake in shares of Barrick Gold Corp. by 87.8% in the first quarter. AMP Capital Investors Ltd now owns 613,039 shares of the company’s stock valued at $8,444,000 after buying an additional 286,682 shares during the period. 60.11% of the stock is currently owned by institutional investors and hedge funds.
About Barrick Gold Corp.
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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