Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, July 6th, MarketBeat Ratings reports. They presently have a $18.00 price target on the basic materials company’s stock, down from their prior price target of $21.00. BMO Capital Markets’ target price would suggest a potential upside of 8.37% from the company’s current price.
A number of other analysts also recently issued reports on the stock. Vetr upgraded shares of Barrick Gold Corporation from a “hold” rating to a “buy” rating and set a $20.20 price target on the stock in a report on Thursday, March 23rd. Jefferies Group LLC set a $21.00 price target on shares of Barrick Gold Corporation and gave the company a “buy” rating in a report on Tuesday, March 14th. Scotiabank reiterated a “sector perform” rating and issued a $22.50 price target on shares of Barrick Gold Corporation in a report on Tuesday, April 25th. BidaskClub downgraded shares of Barrick Gold Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $21.00 price target (down from $22.00) on shares of Barrick Gold Corporation in a report on Sunday, June 25th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $21.73.
Shares of Barrick Gold Corporation (ABX) traded down 2.64% on Thursday, reaching $16.61. 10,882,842 shares of the company traded hands. The firm has a market capitalization of $19.37 billion, a P/E ratio of 8.22 and a beta of -0.23. The stock has a 50-day moving average price of $16.04 and a 200 day moving average price of $17.58. Barrick Gold Corporation has a 1-year low of $13.81 and a 1-year high of $22.70.
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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.03 billion. Barrick Gold Corporation had a net margin of 26.95% and a return on equity of 8.91%. Barrick Gold Corporation’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. Analysts anticipate that Barrick Gold Corporation will post $0.73 EPS for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its stake in Barrick Gold Corporation by 275.8% in the first quarter. Quadrant Capital Group LLC now owns 5,592 shares of the basic materials company’s stock valued at $104,000 after buying an additional 4,104 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Barrick Gold Corporation by 116.4% in the second quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock valued at $105,000 after buying an additional 3,543 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Barrick Gold Corporation by 9.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 5,608 shares of the basic materials company’s stock valued at $106,000 after buying an additional 506 shares during the last quarter. FNY Managed Accounts LLC acquired a new stake in shares of Barrick Gold Corporation during the first quarter valued at $116,000. Finally, Gemmer Asset Management LLC acquired a new stake in shares of Barrick Gold Corporation during the first quarter valued at $155,000. 57.72% of the stock is owned by institutional investors.
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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