Jefferies Group LLC Reiterates Buy Rating for Barrick Gold Corporation (ABX)

Jefferies Group LLC reaffirmed their buy rating on shares of Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) in a research report report published on Friday, July 14th. They currently have a $20.00 price objective on the basic materials company’s stock, down from their previous price objective of $24.00.

Several other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Barrick Gold Corporation from a hold rating to a sell rating in a report on Tuesday, July 11th. BMO Capital Markets lowered shares of Barrick Gold Corporation from an outperform rating to a market perform rating and cut their price target for the company from $21.00 to $18.00 in a report on Thursday, July 6th. BidaskClub downgraded shares of Barrick Gold Corporation from a hold rating to a sell rating in a research report on Saturday, July 1st. Berenberg Bank raised shares of 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 research report on Thursday, June 29th. Finally, TD Securities reaffirmed a hold rating on shares of Barrick Gold Corporation in a research report on Tuesday, June 27th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Barrick Gold Corporation presently has a consensus rating of Hold and a consensus price target of $20.59.

Shares of Barrick Gold Corporation (ABX) opened at 17.04 on Friday. The firm has a 50-day moving average of $16.27 and a 200-day moving average of $17.56. The company has a market cap of $19.87 billion, a P/E ratio of 8.44 and a beta of -0.23. Barrick Gold Corporation has a 52-week low of $13.81 and a 52-week high of $21.83. Barrick Gold Corporation also was the recipient of some unusual options trading activity on Wednesday. Traders bought 19,089 call options on the stock. This represents an increase of approximately 106% compared to the typical daily volume of 9,246 call options.

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last posted its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.05. Barrick Gold Corporation had a net margin of 26.95% and a return on equity of 8.91%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm posted $0.14 earnings per share. Barrick Gold Corporation’s revenue for the quarter was up 7.4% compared to the same quarter last year. Equities research analysts forecast that Barrick Gold Corporation will post $0.73 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.70%. The ex-dividend date is Tuesday, August 29th. Barrick Gold Corporation’s dividend payout ratio (DPR) is presently 5.94%.

A number of institutional investors have recently made changes to their positions in ABX. Capstone Asset Management Co. boosted its position in shares of 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 during the period. Bennicas & Associates Inc. boosted 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 during the last quarter. Rothschild Investment Corp IL boosted its stake in Barrick Gold Corporation by 148.6% in the second quarter. Rothschild Investment Corp IL now owns 49,775 shares of the basic materials company’s stock worth $792,000 after buying an additional 29,750 shares during the last quarter. Arlington Capital Management Inc. boosted 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 during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted 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 during the last quarter. Hedge funds and other institutional investors own 58.87% of the company’s stock.

Barrick Gold Corporation 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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