Jefferies Financial Group downgraded shares of Barrick Gold (NYSE:ABX) (TSE:ABX) from a buy rating to a hold rating in a research note issued to investors on Monday, MarketBeat.com reports. They currently have $11.00 price objective on the basic materials company’s stock, down from their prior price objective of $17.00. Jefferies Financial Group also issued estimates for Barrick Gold’s FY2018 earnings at $0.55 EPS, FY2019 earnings at $0.61 EPS and FY2020 earnings at $0.61 EPS.

A number of other analysts have also commented on the company. Morgan Stanley lowered Barrick Gold from an equal weight rating to an underweight rating and decreased their target price for the company from $14.00 to $12.00 in a research report on Tuesday, June 12th. Zacks Investment Research lowered Barrick Gold from a hold rating to a strong sell rating in a research report on Thursday, April 12th. Credit Suisse Group set a $19.00 target price on Barrick Gold and gave the company a hold rating in a research report on Friday, April 13th. Canaccord Genuity lowered Barrick Gold from a buy rating to a hold rating in a research report on Monday, April 23rd. Finally, Royal Bank of Canada lowered Barrick Gold from an outperform rating to a sector perform rating and decreased their target price for the company from $16.00 to $14.00 in a research report on Monday, July 30th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $15.18.

Shares of Barrick Gold opened at $10.86 on Monday, MarketBeat.com reports. Barrick Gold has a one year low of $10.75 and a one year high of $18.35. The stock has a market capitalization of $12.59 billion, a P/E ratio of 17.98, a PEG ratio of 8.95 and a beta of -0.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.12 and a quick ratio of 1.22.

Barrick Gold (NYSE:ABX) (TSE:ABX) last issued its earnings results on Wednesday, July 25th. The basic materials company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). Barrick Gold had a negative net margin of 3.38% and a positive return on equity of 6.13%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was down 20.7% on a year-over-year basis. analysts expect that Barrick Gold will post 0.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Thursday, August 30th. Barrick Gold’s dividend payout ratio is currently 16.00%.

Institutional investors and hedge funds have recently modified their holdings of the business. Private Vista LLC purchased a new position in shares of Barrick Gold in the 1st quarter worth approximately $125,000. Arlington Capital Management Inc. purchased a new position in shares of Barrick Gold in the 1st quarter worth approximately $206,000. Trexquant Investment LP purchased a new position in shares of Barrick Gold in the 2nd quarter worth approximately $224,000. Timber Hill LLC boosted its stake in shares of Barrick Gold by 94.5% in the 1st quarter. Timber Hill LLC now owns 20,580 shares of the basic materials company’s stock worth $256,000 after buying an additional 10,000 shares during the last quarter. Finally, Cypress Capital Management LLC WY purchased a new position in shares of Barrick Gold in the 2nd quarter worth approximately $287,000. 52.96% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Company Profile

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.

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Analyst Recommendations for Barrick Gold (NYSE:ABX)

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