Barrick Gold Corp. (NYSE:ABX) – Equities researchers at Jefferies Group reduced their FY2016 EPS estimates for shares of Barrick Gold Corp. in a research report issued on Friday. Jefferies Group analyst C. Lafemina now expects that the brokerage will post earnings of $0.53 per share for the year, down from their previous forecast of $0.62. Jefferies Group currently has a “Buy” rating and a $26.00 target price on the stock.
Barrick Gold Corp. (NYSE:ABX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by $0.01. The business earned $2.01 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.01) EPS.
Other analysts also recently issued reports about the company. BMO Capital Markets restated a “buy” rating and issued a $25.00 price objective on shares of Barrick Gold Corp. in a report on Thursday, July 28th. Canaccord Genuity upgraded shares of Barrick Gold Corp. from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Vetr downgraded shares of Barrick Gold Corp. from a “strong-buy” rating to a “buy” rating and set a $23.56 target price for the company. in a report on Wednesday, July 27th. TD Securities reiterated a “buy” rating and issued a $26.00 target price on shares of Barrick Gold Corp. in a report on Monday, July 25th. Finally, Citigroup Inc. initiated coverage on shares of Barrick Gold Corp. in a report on Tuesday, August 2nd. They issued a “buy” rating and a $29.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $21.19.
Barrick Gold Corp. (NYSE:ABX) opened at 16.37 on Monday. The company has a 50 day moving average of $17.19 and a 200-day moving average of $18.66. Barrick Gold Corp. has a 12-month low of $6.90 and a 12-month high of $23.47. The stock’s market cap is $19.08 billion.
A number of large investors have recently added to or reduced their stakes in the company. Cohen & Steers Inc. increased its stake in Barrick Gold Corp. by 32,393.7% in the second quarter. Cohen & Steers Inc. now owns 43,332,308 shares of the company’s stock worth $1,599,829,000 after buying an additional 43,198,952 shares during the period. Orbis Allan Gray Ltd purchased a new stake in Barrick Gold Corp. during the first quarter worth $414,288,000. FMR LLC increased its stake in Barrick Gold Corp. by 235.7% in the second quarter. FMR LLC now owns 25,629,021 shares of the company’s stock worth $547,117,000 after buying an additional 17,994,004 shares during the period. Van ECK Associates Corp increased its stake in Barrick Gold Corp. by 20.0% in the second quarter. Van ECK Associates Corp now owns 59,726,542 shares of the company’s stock worth $1,275,162,000 after buying an additional 9,942,301 shares during the period. Finally, BlackRock Group LTD increased its stake in Barrick Gold Corp. by 29.3% in the second quarter. BlackRock Group LTD now owns 29,442,014 shares of the company’s stock worth $628,587,000 after buying an additional 6,663,024 shares during the period. 60.13% 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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