Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) – Stock analysts at Cormark dropped their Q1 2018 earnings per share estimates for shares of Barrick Gold Corporation in a research note issued on Thursday. Cormark analyst R. Gray now forecasts that the basic materials company will earn $0.18 per share for the quarter, down from their previous estimate of $0.23. Cormark also issued estimates for Barrick Gold Corporation’s Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at $0.18 EPS and FY2018 earnings at $0.71 EPS.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last posted its earnings results on Wednesday, October 25th. The basic materials company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). Barrick Gold Corporation had a net margin of 25.72% and a return on equity of 7.84%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter in the prior year, the business posted $0.24 earnings per share. Barrick Gold Corporation’s revenue for the quarter was down 15.8% compared to the same quarter last year.
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Several other research analysts have also issued reports on the company. Royal Bank Of Canada restated an “outperform” rating on shares of Barrick Gold Corporation in a research report on Friday, August 18th. Credit Suisse Group restated a “buy” rating and set a $22.00 target price on shares of Barrick Gold Corporation in a research report on Sunday, September 24th. TD Securities set a $20.00 target price on Barrick Gold Corporation and gave the company a “hold” rating in a research report on Thursday, October 12th. Zacks Investment Research lowered Barrick Gold Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, BMO Capital Markets lowered Barrick Gold Corporation from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $21.00 to $18.00 in a research report on Thursday, July 6th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.80.
Barrick Gold Corporation (ABX) opened at 14.68 on Monday. The stock’s 50 day moving average price is $16.44 and its 200-day moving average price is $16.70. Barrick Gold Corporation has a 12 month low of $13.81 and a 12 month high of $20.78. The company has a market capitalization of $17.12 billion, a P/E ratio of 7.27 and a beta of -0.33.
Large investors have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its stake in Barrick Gold Corporation by 116.4% in the second quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock worth $105,000 after buying an additional 3,543 shares in the last quarter. FNY Partners Fund LP bought a new position in Barrick Gold Corporation in the second quarter worth approximately $159,000. F&V Capital Management LLC bought a new position in Barrick Gold Corporation in the second quarter worth approximately $161,000. Neuberger Berman Group LLC bought a new position in Barrick Gold Corporation in the second quarter worth approximately $161,000. Finally, ETRADE Capital Management LLC bought a new position in Barrick Gold Corporation in the second quarter worth approximately $180,000. 56.18% of the stock is owned by institutional investors.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Wednesday, November 29th. Barrick Gold Corporation’s dividend payout ratio (DPR) is 6.45%.
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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