Barrick Gold Corporation (NYSE:ABX) (TSE:ABX)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group LLC in a research note issued to investors on Thursday. They currently have a $20.00 price target on the basic materials company’s stock. Jefferies Group LLC’s price target indicates a potential upside of 21.43% from the company’s previous close.
ABX has been the subject of several other reports. Royal Bank Of Canada reiterated a “buy” rating and set a $23.00 price objective on shares of Barrick Gold Corporation in a research note on Wednesday, May 24th. Berenberg Bank set a $15.00 price objective on Barrick Gold Corporation and gave the stock a “sell” rating in a research note on Saturday, May 27th. TD Securities reiterated a “hold” rating on shares of Barrick Gold Corporation in a research note on Sunday, May 28th. Barclays PLC reiterated an “equal weight” rating and set a $20.00 price objective (down from $22.00) on shares of Barrick Gold Corporation in a research note on Thursday, June 1st. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating and set a $19.00 price objective on shares of Barrick Gold Corporation in a research note on Thursday, June 15th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Barrick Gold Corporation presently has an average rating of “Hold” and a consensus price target of $20.59.
Barrick Gold Corporation (ABX) opened at 16.47 on Thursday. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 8.15 and a beta of -0.29. Barrick Gold Corporation has a 1-year low of $13.81 and a 1-year high of $20.78. The stock has a 50 day moving average price of $17.20 and a 200-day moving average price of $17.21. Barrick Gold Corporation also was the recipient of some unusual options trading on Monday. Investors acquired 18,056 call options on the stock. This represents an increase of approximately 116% compared to the average daily volume of 8,376 call options.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last announced its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.05. Barrick Gold Corporation had a return on equity of 8.91% and a net margin of 26.95%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business earned $0.14 EPS. Barrick Gold Corporation’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that Barrick Gold Corporation will post $0.74 EPS for the current year.
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Several institutional investors have recently modified their holdings of ABX. Sei Investments Co. boosted its holdings in shares of Barrick Gold Corporation by 32.8% during the 1st quarter. Sei Investments Co. now owns 295,404 shares of the basic materials company’s stock worth $5,610,000 after purchasing an additional 73,043 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Barrick Gold Corporation by 201.8% in the first quarter. Ameriprise Financial Inc. now owns 45,655 shares of the basic materials company’s stock valued at $867,000 after acquiring an additional 30,526 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Barrick Gold Corporation by 11.0% in the first quarter. Parametric Portfolio Associates LLC now owns 479,904 shares of the basic materials company’s stock valued at $9,113,000 after acquiring an additional 47,502 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Barrick Gold Corporation by 26.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 45,686 shares of the basic materials company’s stock valued at $868,000 after acquiring an additional 9,534 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Barrick Gold Corporation by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 86,751 shares of the basic materials company’s stock valued at $1,646,000 after acquiring an additional 636 shares during the last quarter. Institutional investors and hedge funds own 55.65% of the company’s stock.
About Barrick Gold Corporation
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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