Trade Report: The FY2016 Earnings Estimate for Barrick Gold Corp. (ABX) Issued By Cormark

The FY2016 Earnings Estimate for Barrick Gold Corp. (ABX) Issued By Cormark

Barrick Gold Corp. (NYSE:ABX) – Analysts at Cormark upped their FY2016 earnings per share estimates for shares of Barrick Gold Corp. in a note issued to investors on Friday. Cormark analyst R. Gray now anticipates that the firm will post earnings per share of $0.70 for the year, up from their prior estimate of $0.61. Cormark also issued estimates for Barrick Gold Corp.’s Q4 2016 earnings at $0.22 EPS, Q1 2017 earnings at $0.22 EPS, Q2 2017 earnings at $0.22 EPS, Q3 2017 earnings at $0.22 EPS, Q4 2017 earnings at $0.22 EPS and FY2017 earnings at $0.88 EPS.

ABX has been the topic of several other reports. Vetr upgraded Barrick Gold Corp. from a “buy” rating to a “strong-buy” rating and set a $23.66 target price on the stock in a report on Wednesday, July 20th. Zacks Investment Research raised Barrick Gold Corp. from a “hold” rating to a “strong-buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, October 4th. Jefferies Group raised Barrick Gold Corp. from a “hold” rating to a “buy” rating and boosted their price target for the company from $21.08 to $26.00 in a research note on Thursday, July 14th. Deutsche Bank AG raised Barrick Gold Corp. from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Monday, October 3rd. Finally, TD Securities reissued a “buy” rating and issued a $26.00 price target on shares of Barrick Gold Corp. in a research note on Monday, July 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $21.19.

Barrick Gold Corp. (NYSE:ABX) opened at 17.08 on Monday. The company has a 50 day moving average of $16.94 and a 200 day moving average of $18.73. The company’s market capitalization is $19.91 billion. Barrick Gold Corp. has a 1-year low of $6.90 and a 1-year high of $23.47.

Barrick Gold Corp. (NYSE:ABX) last released its earnings results on Wednesday, October 26th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. Barrick Gold Corp. had a negative net margin of 28.22% and a positive return on equity of 6.81%. The business earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the business earned $0.11 earnings per share. The firm’s revenue was down .6% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.08 dividend on an annualized basis and a yield of 0.47%. Barrick Gold Corp.’s dividend payout ratio (DPR) is presently -3.90%.

Several hedge funds and other institutional investors have recently bought and sold shares of ABX. First New York Securities LLC NY purchased a new position in Barrick Gold Corp. during the second quarter valued at $117,000. Dubuque Bank & Trust Co. purchased a new position in Barrick Gold Corp. during the second quarter valued at $141,000. Gemmer Asset Management LLC increased its position in Barrick Gold Corp. by 3,974.0% in the third quarter. Gemmer Asset Management LLC now owns 8,148 shares of the company’s stock valued at $144,000 after buying an additional 7,948 shares during the last quarter. CENTRAL TRUST Co increased its position in Barrick Gold Corp. by 5.3% in the second quarter. CENTRAL TRUST Co now owns 7,786 shares of the company’s stock valued at $166,000 after buying an additional 392 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in Barrick Gold Corp. by 0.9% in the third quarter. Acadian Asset Management LLC now owns 11,600 shares of the company’s stock valued at $206,000 after buying an additional 100 shares during the last quarter. Institutional investors own 60.00% of the company’s stock.

About Barrick Gold Corp.

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