Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) – Equities research analysts at Cormark cut their Q3 2017 earnings per share (EPS) estimates for Barrick Gold Corporation in a report released on Monday. Cormark analyst R. Gray now forecasts that the basic materials company will earn $0.17 per share for the quarter, down from their prior forecast of $0.24.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.05. Barrick Gold Corporation had a net margin of 26.95% and a return on equity of 8.91%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business posted $0.14 EPS. Barrick Gold Corporation’s revenue for the quarter was up 7.4% compared to the same quarter last year.
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Several other analysts also recently weighed in on ABX. Jefferies Group LLC restated a “buy” rating and set a $24.00 price objective on shares of Barrick Gold Corporation in a research report on Wednesday, June 21st. BidaskClub upgraded shares of Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Deutsche Bank AG restated a “buy” rating and set a $21.00 price objective (down previously from $22.00) on shares of Barrick Gold Corporation in a research report on Sunday, June 25th. TD Securities restated a “hold” rating on shares of Barrick Gold Corporation in a research report on Tuesday, June 27th. Finally, Berenberg Bank upgraded shares of Barrick Gold Corporation from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $16.13 to $16.40 in a research report on Thursday, June 29th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.15.
Barrick Gold Corporation (ABX) opened at 16.22 on Tuesday. The firm’s 50-day moving average is $16.98 and its 200-day moving average is $16.92. Barrick Gold Corporation has a 52 week low of $13.81 and a 52 week high of $20.78. The firm has a market cap of $18.91 billion, a price-to-earnings ratio of 8.03 and a beta of -0.34.
Institutional investors have recently made changes to their positions in the company. CNA Financial Corp increased its stake in Barrick Gold Corporation by 17.1% in the 2nd quarter. CNA Financial Corp now owns 150,595 shares of the basic materials company’s stock valued at $2,396,000 after buying an additional 21,955 shares during the period. Rothschild Investment Corp IL increased its stake in Barrick Gold Corporation by 148.6% in the 2nd quarter. Rothschild Investment Corp IL now owns 49,775 shares of the basic materials company’s stock valued at $792,000 after buying an additional 29,750 shares during the period. River & Mercantile Asset Management LLP acquired a new position in Barrick Gold Corporation in the 2nd quarter valued at $1,907,000. Public Sector Pension investment Board increased its stake in Barrick Gold Corporation by 23.4% in the 2nd quarter. Public Sector Pension investment Board now owns 2,309,050 shares of the basic materials company’s stock valued at $36,679,000 after buying an additional 437,900 shares during the period. Finally, Commonwealth Bank of Australia increased its stake in Barrick Gold Corporation by 146.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 94,787 shares of the basic materials company’s stock valued at $1,504,000 after buying an additional 56,270 shares during the period. 55.68% of the stock is currently owned by institutional investors and hedge funds.
Barrick Gold Corporation Company Profile
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.
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