Traders Buy Shares of Barrick Gold (ABX) on Weakness
Investors bought shares of Barrick Gold Corp (NYSE:ABX) (TSE:ABX) on weakness during trading hours on Wednesday. $48.57 million flowed into the stock on the tick-up and $31.15 million flowed out of the stock on the tick-down, for a money net flow of $17.42 million into the stock. Of all stocks tracked, Barrick Gold had the 22nd highest net in-flow for the day. Barrick Gold traded down ($0.58) for the day and closed at $14.62
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Monday, January 8th. Credit Suisse Group reaffirmed a “hold” rating and set a $19.00 price target on shares of Barrick Gold in a research note on Thursday. TD Securities upped their price target on shares of Barrick Gold from $17.00 to $17.50 and gave the company a “hold” rating in a research note on Friday, January 12th. Jefferies Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Barrick Gold in a research note on Thursday, September 21st. Finally, CSFB decreased their price target on shares of Barrick Gold from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. Barrick Gold currently has an average rating of “Hold” and an average price target of $18.48.
The company has a market cap of $16,780.00, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 8.09 and a beta of -0.42. The company has a current ratio of 2.73, a quick ratio of 1.56 and a debt-to-equity ratio of 0.55.
Institutional investors and hedge funds have recently made changes to their positions in the company. Neuberger Berman Group LLC purchased a new stake in shares of Barrick Gold in the second quarter valued at $161,000. Fruth Investment Management purchased a new stake in shares of Barrick Gold in the fourth quarter valued at $150,000. ETRADE Capital Management LLC bought a new position in shares of Barrick Gold in the second quarter worth about $180,000. Boothbay Fund Management LLC bought a new position in shares of Barrick Gold in the third quarter worth about $187,000. Finally, MML Investors Services LLC grew its holdings in shares of Barrick Gold by 11.6% in the second quarter. MML Investors Services LLC now owns 11,644 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 1,209 shares during the last quarter. 55.65% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This news story was originally published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://theolympiareport.com/2018/01/19/traders-buy-shares-of-barrick-gold-abx-on-weakness.html.
About Barrick Gold
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.
Receive News & Ratings for Barrick Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barrick Gold and related companies with MarketBeat.com's FREE daily email newsletter.