Barrick Gold Corporation (ABX) Receives Buy Rating from Jefferies Group LLC

Jefferies Group LLC restated their buy rating on shares of Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) in a report issued on Friday. Jefferies Group LLC currently has a $20.00 price target on the basic materials company’s stock, down from their previous price target of $24.00.

A number of other brokerages also recently issued reports on ABX. TD Securities reaffirmed a hold rating on shares of Barrick Gold Corporation in a report on Sunday, May 28th. Raymond James Financial, Inc. reaffirmed a market perform rating and issued a $19.00 price target on shares of Barrick Gold Corporation in a report on Thursday, June 15th. Zacks Investment Research downgraded Barrick Gold Corporation from a hold rating to a sell rating in a report on Tuesday, July 11th. Berenberg Bank raised Barrick Gold Corporation from a sell rating to a hold rating and increased their price objective for the company from $16.13 to $16.40 in a report on Thursday, June 29th. Finally, BMO Capital Markets downgraded Barrick Gold Corporation from an outperform rating to a market perform rating and decreased their price objective for the company from $21.00 to $18.00 in a report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $22.16.

Barrick Gold Corporation (NYSE ABX) traded up 0.56% on Friday, reaching $16.08. 7,245,903 shares of the company traded hands. Barrick Gold Corporation has a 1-year low of $13.81 and a 1-year high of $22.94. The stock has a 50 day moving average of $16.37 and a 200-day moving average of $17.50. The stock has a market capitalization of $18.75 billion, a price-to-earnings ratio of 13.29 and a beta of -0.25.

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings results on Monday, April 24th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.07. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Barrick Gold Corporation had a return on equity of 8.34% and a net margin of 16.44%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.11 earnings per share. On average, equities analysts anticipate that Barrick Gold Corporation will post $0.73 EPS for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of ABX. Capstone Asset Management Co. increased its stake in Barrick Gold Corporation by 2.0% in the first quarter. Capstone Asset Management Co. now owns 72,065 shares of the basic materials company’s stock valued at $1,369,000 after buying an additional 1,420 shares in the last quarter. Bennicas & Associates Inc. increased its stake in Barrick Gold Corporation by 4.3% in the first quarter. Bennicas & Associates Inc. now owns 24,450 shares of the basic materials company’s stock worth $464,000 after buying an additional 1,000 shares in the last quarter. Arlington Capital Management Inc. increased its stake in Barrick Gold Corporation by 4.4% in the first quarter. Arlington Capital Management Inc. now owns 850,132 shares of the basic materials company’s stock worth $16,144,000 after buying an additional 35,481 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in Barrick Gold Corporation by 18.6% in the first quarter. Candriam Luxembourg S.C.A. now owns 32,133 shares of the basic materials company’s stock worth $609,000 after buying an additional 5,030 shares in the last quarter. Finally, Morgan Stanley increased its stake in Barrick Gold Corporation by 40.9% in the first quarter. Morgan Stanley now owns 3,754,302 shares of the basic materials company’s stock worth $71,294,000 after buying an additional 1,090,729 shares in the last quarter. Hedge funds and other institutional investors own 57.75% 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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