Barrick Gold Corp (NYSE: ABX) Price Target Reiterated by Jefferies Group LLC

Barrick Gold Corp. (NYSE:ABX) (TSE:ABX)‘s stock had its “buy” rating reiterated by stock analysts at Jefferies Group LLC in a note to issued to investors on last Thursday. They presently have a $21.00 target price on the stock. Jefferies Group LLC’s price objective would suggest a potential upside of 9.72% from the company’s previous close.

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Several other research firms have also recently commented on ABX. Clarkson Capital cut shares of Barrick Gold Corp from a “buy” rating to a “neutral” rating in a report on Wednesday, February 15th. TheStreet upgraded shares of Barrick Gold Corp from a “c” rating to a “b-” rating in a report on Thursday, February 23rd. Vetr cut shares of Barrick Gold Corp from a “hold” rating to a “sell” rating and set a $18.55 price target for the company. in a report on Monday, February 27th. Zacks Investment Research cut shares of Barrick Gold Corp from a “hold” rating to a “sell” rating in a report on Monday, February 13th. Finally, Berenberg Bank reiterated a “sell” rating and set a $15.20 price target on shares of Barrick Gold Corp in a report on Thursday, February 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $22.66.

Barrick Gold Corp (NYSE:ABX)

Barrick Gold Corp (NYSE:ABX) opened at 19.14 on Thursday. The firm has a 50-day moving average of $19.01 and a 200-day moving average of $17.18. The company has a market capitalization of $22.31 billion, a P/E ratio of 34.18 and a beta of -0.24. Barrick Gold Corp has a 52 week low of $13.04 and a 52 week high of $23.47.

Barrick Gold Corp (NYSE:ABX) last posted its quarterly earnings results on Wednesday, February 15th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. Barrick Gold Corp had a negative net margin of 28.22% and a positive return on equity of 6.81%. The company earned $2.32 million during the quarter, compared to analysts’ expectations of $2.27 billion. Analysts anticipate that Barrick Gold Corp will post $0.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were given a $0.03 dividend. This is an increase from Barrick Gold Corp’s previous quarterly dividend of $0.02. The ex-dividend date was Friday, February 24th. This represents a $0.12 annualized dividend and a yield of 0.63%. Barrick Gold Corp’s dividend payout ratio is -3.90%.

A number of hedge funds have recently added to or reduced their stakes in ABX. Van ECK Associates Corp increased its stake in Barrick Gold Corp by 14.9% in the fourth quarter. Van ECK Associates Corp now owns 70,886,606 shares of the company’s stock valued at $1,132,768,000 after buying an additional 9,206,142 shares during the period. Majedie Asset Management Ltd increased its stake in Barrick Gold Corp by 165.3% in the third quarter. Majedie Asset Management Ltd now owns 10,811,567 shares of the company’s stock valued at $191,581,000 after buying an additional 6,736,764 shares during the period. Oldfield Partners LLP increased its stake in Barrick Gold Corp by 68.3% in the third quarter. Oldfield Partners LLP now owns 15,042,420 shares of the company’s stock valued at $266,399,000 after buying an additional 6,104,649 shares during the period. Caxton Associates LP increased its stake in Barrick Gold Corp by 104.7% in the fourth quarter. Caxton Associates LP now owns 11,340,000 shares of the company’s stock valued at $181,213,000 after buying an additional 5,800,000 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in Barrick Gold Corp during the third quarter valued at approximately $88,053,000. Hedge funds and other institutional investors own 58.61% of the company’s stock.

About Barrick Gold Corp

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.

Barrick Gold Corp. NYSE:ABX