Barrick Gold Corp. (NYSE:ABX) was upgraded by equities researchers at Deutsche Bank AG from a “hold” rating to a “buy” rating in a research note issued on Monday, The Fly reports.
ABX has been the subject of several other research reports. Vetr raised Barrick Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $23.66 target price for the company in a research report on Wednesday, July 20th. Jefferies Group raised Barrick Gold Corp. from a “hold” rating to a “buy” rating and upped their target price for the stock from $21.08 to $26.00 in a research report on Thursday, July 14th. Zacks Investment Research downgraded Barrick Gold Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, September 7th. TD Securities reaffirmed 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, Canaccord Genuity raised Barrick Gold Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $21.29.
Barrick Gold Corp. (NYSE:ABX) opened at 17.72 on Monday. The company’s 50-day moving average price is $18.60 and its 200-day moving average price is $18.47. Barrick Gold Corp. has a 1-year low of $6.61 and a 1-year high of $23.47. The stock’s market cap is $20.65 billion.
Barrick Gold Corp. (NYSE:ABX) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. Barrick Gold Corp. had a negative net margin of 33.33% and a positive return on equity of 4.95%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period last year, the firm posted ($0.01) EPS. Barrick Gold Corp.’s revenue was down 9.8% on a year-over-year basis. Analysts predict that Barrick Gold Corp. will post $0.69 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, August 29th. Barrick Gold Corp.’s dividend payout ratio (DPR) is -3.29%.
A number of institutional investors have recently modified their holdings of the company. Aperio Group LLC raised its position in shares of Barrick Gold Corp. by 2.7% in the first quarter. Aperio Group LLC now owns 329,620 shares of the company’s stock worth $4,476,000 after buying an additional 8,726 shares during the last quarter. Ngam Advisors L.P. purchased a new position in shares of Barrick Gold Corp. during the first quarter worth about $481,000. TIAA CREF Investment Management LLC purchased a new position in shares of Barrick Gold Corp. during the first quarter worth about $6,380,000. Teachers Advisors Inc. purchased a new position in shares of Barrick Gold Corp. during the first quarter worth about $9,869,000. Finally, BlackRock Group LTD raised its position in shares of Barrick Gold Corp. by 455.6% in the first quarter. BlackRock Group LTD now owns 22,778,990 shares of the company’s stock worth $309,339,000 after buying an additional 18,679,408 shares during the last quarter. 60.11% of the stock is 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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