Analysts’ Recent Ratings Updates for Barrick Gold (ABX)

A number of research firms have changed their ratings and price targets for Barrick Gold (NYSE: ABX):

  • 9/25/2018 – Barrick Gold was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Earnings estimates for Barrick for the third quarter and full year have been going down lately. Barrick faces headwinds from lower expected production and higher costs in 2018. This may hurt margins in 2018. The company's declining gold reserve base is another concern. It is also exposed to a volatile gold pricing environment. Barrick has also underperformed the industry it belongs to in the past year.”
  • 9/25/2018 – Barrick Gold was upgraded by analysts at TD Securities from a “hold” rating to a “buy” rating. They now have a $14.00 price target on the stock, up previously from $13.50.
  • 9/25/2018 – Barrick Gold was upgraded by analysts at Citigroup Inc from a “neutral” rating to a “buy” rating. They now have a $14.00 price target on the stock.
  • 9/21/2018 – Barrick Gold had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $15.00 price target on the stock.
  • 9/17/2018 – Barrick Gold had its price target lowered by analysts at JPMorgan Chase & Co. from $15.50 to $13.00. They now have a “neutral” rating on the stock.
  • 8/28/2018 – Barrick Gold was upgraded by analysts at Citigroup Inc from a “sell” rating to a “neutral” rating. They now have a $11.00 price target on the stock.
  • 8/6/2018 – Barrick Gold was downgraded by analysts at Jefferies Financial Group Inc from a “buy” rating to a “hold” rating. They now have a $11.00 price target on the stock, down previously from $17.00.
  • 7/30/2018 – Barrick Gold was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating. They now have a $14.00 price target on the stock, down previously from $16.00.
  • 7/30/2018 – Barrick Gold was given a new $14.00 price target on by analysts at TD Securities. They now have a “hold” rating on the stock.

Shares of NYSE:ABX traded up $0.33 during mid-day trading on Thursday, reaching $11.18. The stock had a trading volume of 1,153,916 shares, compared to its average volume of 15,214,125. The company has a market capitalization of $13.05 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 9.30 and a beta of -0.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.12 and a quick ratio of 1.22. Barrick Gold Corp has a twelve month low of $9.53 and a twelve month high of $16.83.

Barrick Gold (NYSE:ABX) (TSE:ABX) last announced its quarterly earnings results on Wednesday, July 25th. The basic materials company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.74 billion. Barrick Gold had a negative net margin of 3.38% and a positive return on equity of 6.13%. The business’s revenue was down 20.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. equities research analysts expect that Barrick Gold Corp will post 0.6 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 31st were given a $0.03 dividend. The ex-dividend date was Thursday, August 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.07%. Barrick Gold’s dividend payout ratio is 16.00%.

A number of hedge funds have recently made changes to their positions in the business. Flossbach Von Storch AG raised its holdings in Barrick Gold by 13.8% during the 2nd quarter. Flossbach Von Storch AG now owns 48,397,134 shares of the basic materials company’s stock worth $635,457,000 after buying an additional 5,873,410 shares during the period. Ashler Capital LLC raised its holdings in Barrick Gold by 78.2% during the 2nd quarter. Ashler Capital LLC now owns 18,297,749 shares of the basic materials company’s stock worth $240,249,000 after buying an additional 8,030,578 shares during the period. Jupiter Asset Management Ltd. raised its holdings in Barrick Gold by 22.0% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 7,831,133 shares of the basic materials company’s stock worth $102,823,000 after buying an additional 1,412,000 shares during the period. Toronto Dominion Bank raised its holdings in Barrick Gold by 144.4% during the 2nd quarter. Toronto Dominion Bank now owns 7,729,036 shares of the basic materials company’s stock worth $103,335,000 after buying an additional 4,567,102 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Barrick Gold by 138.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,285,904 shares of the basic materials company’s stock worth $82,534,000 after buying an additional 3,644,976 shares during the period. Hedge funds and other institutional investors own 52.65% of the company’s stock.

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.

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