Barrick Gold Corp (ABX) Raised to “Outperform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) from a sector perform rating to an outperform rating in a report released on Thursday. Royal Bank of Canada currently has $23.00 price target on the stock, up from their prior price target of $19.00. The analysts noted that the move was a valuation call.

A number of other equities analysts have also weighed in on ABX. Vetr lowered Barrick Gold Corp from a buy rating to a hold rating and set a $19.30 price objective for the company. in a research note on Wednesday, March 15th. Jefferies Group LLC set a $21.00 price objective on Barrick Gold Corp and gave the stock a buy rating in a research note on Tuesday, March 14th. Barclays PLC upped their price objective on Barrick Gold Corp from $20.00 to $22.00 and gave the stock an equal weight rating in a research note on Monday, March 6th. TheStreet raised Barrick Gold Corp from a c rating to a b- rating in a research note on Thursday, February 23rd. Finally, Clarkson Capital lowered Barrick Gold Corp from a buy rating to a neutral rating in a research note on Wednesday, February 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $21.92.

Barrick Gold Corp (NYSE:ABX) opened at 19.06 on Thursday. Barrick Gold Corp has a one year low of $13.04 and a one year high of $23.47. The stock has a market capitalization of $22.22 billion, a PE ratio of 34.04 and a beta of -0.24. The company’s 50 day moving average price is $18.87 and its 200-day moving average price is $17.11.

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The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, February 24th. This is a positive change from Barrick Gold Corp’s previous quarterly dividend of $0.02. This represents a $0.12 dividend on an annualized basis and a yield of 0.63%. Barrick Gold Corp’s dividend payout ratio is presently -3.90%.

A number of institutional investors have recently made changes to their positions in ABX. Assenagon Asset Management S.A. purchased a new position in shares of Barrick Gold Corp during the fourth quarter worth approximately $1,648,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Barrick Gold Corp during the fourth quarter worth approximately $14,427,000. Capital Guardian Trust Co. raised its position in shares of Barrick Gold Corp by 120.3% in the fourth quarter. Capital Guardian Trust Co. now owns 563,925 shares of the company’s stock worth $9,012,000 after buying an additional 308,000 shares during the last quarter. United Capital Financial Advisers LLC raised its position in shares of Barrick Gold Corp by 10.9% in the fourth quarter. United Capital Financial Advisers LLC now owns 16,240 shares of the company’s stock worth $260,000 after buying an additional 1,593 shares during the last quarter. Finally, Capital International Inc. CA purchased a new position in shares of Barrick Gold Corp during the fourth quarter worth approximately $486,000. 58.61% of the stock is owned by institutional investors.

Barrick Gold Corp 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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