Barrick Gold Corporation (ABX) Earns Outperform Rating from Royal Bank Of Canada

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX)‘s stock had its “outperform” rating reissued by Royal Bank Of Canada in a report issued on Thursday, September 7th.

A number of other brokerages also recently issued reports on ABX. Citigroup Inc. reaffirmed a “buy” rating on shares of Barrick Gold Corporation in a research report on Wednesday, September 6th. BidaskClub raised shares of Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. BMO Capital Markets set a $18.00 target price on shares of Barrick Gold Corporation and gave the company a “hold” rating in a research report on Wednesday, August 23rd. Jefferies Group LLC set a $20.00 target price on shares of Barrick Gold Corporation and gave the company a “buy” rating in a research report on Tuesday, August 15th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $21.00 target price (down from $22.00) on shares of Barrick Gold Corporation in a research report on Sunday, June 25th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $20.59.

Barrick Gold Corporation (NYSE:ABX) opened at 17.30 on Thursday. The stock has a 50 day moving average price of $17.20 and a 200 day moving average price of $17.25. Barrick Gold Corporation has a one year low of $13.81 and a one year high of $20.78. The company has a market cap of $20.17 billion, a PE ratio of 8.56 and a beta of -0.29.

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last posted its earnings results on Wednesday, July 26th. The basic materials company reported $0.22 EPS for the quarter, topping the 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 company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts anticipate that Barrick Gold Corporation will post $0.74 EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in ABX. BlackRock Inc. grew its holdings in Barrick Gold Corporation by 40,554.0% in the 1st quarter. BlackRock Inc. now owns 23,482,163 shares of the basic materials company’s stock worth $445,925,000 after acquiring an additional 23,424,402 shares during the last quarter. Flossbach Von Storch AG grew its holdings in Barrick Gold Corporation by 104.8% in the 2nd quarter. Flossbach Von Storch AG now owns 26,529,688 shares of the basic materials company’s stock worth $422,088,000 after acquiring an additional 13,576,086 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Barrick Gold Corporation by 41.7% in the 2nd quarter. Franklin Resources Inc. now owns 34,981,711 shares of the basic materials company’s stock worth $556,558,000 after purchasing an additional 10,291,973 shares during the period. Legal & General Group Plc lifted its position in shares of Barrick Gold Corporation by 253,067.4% in the 1st quarter. Legal & General Group Plc now owns 5,124,109 shares of the basic materials company’s stock worth $97,047,000 after purchasing an additional 5,122,085 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Barrick Gold Corporation by 5.5% in the 1st quarter. Van ECK Associates Corp now owns 74,763,721 shares of the basic materials company’s stock worth $1,419,763,000 after purchasing an additional 3,877,115 shares during the period. 55.65% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Barrick Gold Corporation (NYSE:ABX)

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