Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) was downgraded by investment analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday. They presently have a $18.00 target price on the basic materials company’s stock, down from their previous target price of $21.00.
Several other research analysts also recently weighed in on ABX. Credit Suisse Group downgraded shares of Barrick Gold Corporation from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $19.00 in a report on Thursday, October 26th. CSFB dropped their target price on shares of Barrick Gold Corporation from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, October 26th. Jefferies Group LLC set a $20.00 target price on shares of Barrick Gold Corporation and gave the stock a “buy” rating in a report on Tuesday, August 15th. BMO Capital Markets set a $18.00 target price on shares of Barrick Gold Corporation and gave the stock a “hold” rating in a report on Wednesday, August 23rd. Finally, BidaskClub raised shares of Barrick Gold Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $19.55.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Barrick Gold Corporation had a net margin of 25.72% and a return on equity of 7.73%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the firm earned $0.24 EPS. The company’s revenue was down 15.8% on a year-over-year basis.
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Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. grew its stake in Barrick Gold Corporation by 116.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 3,543 shares in the last quarter. FNY Partners Fund LP bought a new position in Barrick Gold Corporation in the 2nd quarter worth about $159,000. F&V Capital Management LLC bought a new position in Barrick Gold Corporation in the 2nd quarter worth about $161,000. Neuberger Berman Group LLC bought a new position in Barrick Gold Corporation in the 2nd quarter worth about $161,000. Finally, ETRADE Capital Management LLC bought a new position in Barrick Gold Corporation in the 2nd quarter worth about $180,000. Institutional investors and hedge funds own 56.18% 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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