Barrick Gold Corp (NYSE:ABX) was downgraded by equities researchers at TheStreet from a “hold” rating to a “sell” rating in a research report issued on Monday, ARN reports.
The analysts wrote, “Barrick Gold Corporation (ABX) has been downgraded by TheStreet Ratings from hold to sell. The company’s weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally high debt management risk, disappointing return on equity and generally disappointing historical performance in the stock itself.”
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Barrick Gold Corp from $14.00 to $15.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Separately, analysts at Cowen and Company cut their price target on shares of Barrick Gold Corp from $18.10 to $17.61 in a research note to investors on Friday. They now have a “market perform” rating on the stock. Finally, analysts at UBS AG reiterated a “buy” rating on shares of Barrick Gold Corp in a research note to investors on Friday. They now have a $17.50 price target on the stock, up previously from $16.50.
Barrick Gold Corp (NYSE:ABX) traded down 1.74% on Monday, hitting $16.39. Barrick Gold Corp has a 1-year low of $13.43 and a 1-year high of $43.19. The stock’s 50-day moving average is currently $16.38. The company’s market cap is $16.400 billion.
Barrick Gold Corp (NYSE:ABX) last announced its earnings results on Thursday, August 1st. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.12. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Analysts expect that Barrick Gold Corp will post $2.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, August 28th.
Barrick Gold Corporation (NYSE:ABX) is engaged in the production and sale of gold, as well as related activities.
