Barrick Gold Co. (NYSE:ABX) Receives $12.52 Average PT from Analysts

Barrick Gold Co. (NYSE:ABX) has received a consensus recommendation of “Buy” from the twenty research firms that are presently covering the company, Market Beat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $12.52.

Barrick Gold (NYSE:ABX) traded up 5.01% on Monday, hitting $7.75. 7,830,813 shares of the company were exchanged. Barrick Gold has a 52 week low of $5.91 and a 52 week high of $13.70. The stock has a 50 day moving average of $7.45 and a 200 day moving average of $7.80. The company’s market capitalization is $9.03 billion.

Barrick Gold (NYSE:ABX) last issued its earnings results on Thursday, October 29th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. During the same quarter in the prior year, the business posted $0.19 EPS. The firm earned $2.32 billion during the quarter, compared to the consensus estimate of $2.32 billion. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. Analysts predict that Barrick Gold will post $0.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 15th. Investors of record on Monday, November 30th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, November 25th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.08%.

An institutional investor recently bought a new position in Barrick Gold stock. Palo Capital acquired a new stake in shares of Barrick Gold Co. (NYSE:ABX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,713 shares of the company’s stock, valued at approximately $100,000.

ABX has been the topic of several recent analyst reports. RBC Capital restated an “outperform” rating on shares of Barrick Gold in a report on Monday, October 26th. BMO Capital Markets dropped their price target on Barrick Gold from $12.00 to $10.00 in a research note on Wednesday, October 7th. Mackie reaffirmed a “buy” rating and issued a $14.00 price target (up previously from $12.35) on shares of Barrick Gold in a research note on Saturday, October 31st. Vetr lowered Barrick Gold from a “hold” rating to a “sell” rating and set a $7.55 price target for the company. in a research note on Wednesday, October 14th. Finally, Canaccord Genuity raised Barrick Gold from a “hold” rating to a “buy” rating in a research note on Wednesday, November 25th.

12 Month Chart for NYSE:ABX

Barrick Gold Corporation (NYSE:ABX) is a gold mining company. The Company is engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company operates in segments: eight individual gold mines, Acacia and Pascua-Lama project. The remaining operating segments have been grouped into two other categories: its remaining gold mines and its two copper mines. The Company sells its production in the world market through the distribution channels: gold bullion is sold in the gold spot market; gold and copper concentrate is sold to independent smelting companies, and copper cathode is sold to various manufacturers and traders. The Company has 14 producing gold mines, located in Canada, the United States, Peru, Argentina, Australia, the Dominican Republic and Papua New Guinea. It also holds a 63.9% equity interest in Acacia Mining plc (Acacia) that owns gold mines and exploration properties in Africa.

 

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