Trading Report: The Barrick Gold Corp. (ABX) Receives “Buy” Rating from Citigroup Inc.

The Barrick Gold Corp. (ABX) Receives “Buy” Rating from Citigroup Inc.

Barrick Gold Corp. (NYSE:ABX)‘s stock had its “buy” rating reissued by stock analysts at Citigroup Inc. in a research report issued to clients and investors on Monday.

Other analysts have also recently issued reports about the stock. BMO Capital Markets reissued a “buy” rating and set a $25.00 target price on shares of Barrick Gold Corp. in a report on Thursday, July 28th. Jefferies Group reiterated a “buy” rating and issued a $26.00 target price on shares of Barrick Gold Corp. in a research report on Thursday, July 28th. Canaccord Genuity upgraded shares of Barrick Gold Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Vetr lowered shares of Barrick Gold Corp. from a “strong-buy” rating to a “buy” rating and set a $23.56 target price for the company. in a research report on Wednesday, July 27th. Finally, TD Securities reiterated a “buy” rating and issued a $26.00 target price on shares of Barrick Gold Corp. in a research report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $21.19.

Barrick Gold Corp. (NYSE:ABX) traded up 0.70% on Monday, reaching $15.80. 2,278,902 shares of the company’s stock were exchanged. Barrick Gold Corp. has a 1-year low of $6.90 and a 1-year high of $23.47. The stock’s 50 day moving average price is $17.31 and its 200 day moving average price is $18.56. The firm’s market capitalization is $18.41 billion.

Barrick Gold Corp. (NYSE:ABX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.01. Barrick Gold Corp. had a negative net margin of 33.33% and a positive return on equity of 4.95%. The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the company earned ($0.01) earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. On average, analysts expect that Barrick Gold Corp. will post $0.69 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of ABX. Cohen & Steers Inc. raised its position in shares of Barrick Gold Corp. by 32,393.7% in the second quarter. Cohen & Steers Inc. now owns 43,332,308 shares of the company’s stock valued at $1,599,829,000 after buying an additional 43,198,952 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in shares of Barrick Gold Corp. during the first quarter valued at $414,288,000. FMR LLC raised its position in shares of Barrick Gold Corp. by 235.7% in the second quarter. FMR LLC now owns 25,629,021 shares of the company’s stock valued at $547,117,000 after buying an additional 17,994,004 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Barrick Gold Corp. by 20.0% in the second quarter. Van ECK Associates Corp now owns 59,726,542 shares of the company’s stock valued at $1,275,162,000 after buying an additional 9,942,301 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Barrick Gold Corp. by 29.3% in the second quarter. BlackRock Group LTD now owns 29,442,014 shares of the company’s stock valued at $628,587,000 after buying an additional 6,663,024 shares during the last quarter. 60.13% of the stock is owned by institutional investors and hedge funds.

About Barrick Gold Corp.

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