Barrick Gold Corporation (USA) (ABX) is Initiated by Citigroup to Buy, Price Target at $29

Barrick Gold Corporation (USA) (ABX) was Initiated by Citigroup to “Buy” and the brokerage firm has set the Price Target at $29. Citigroup advised their investors in a research report released on Aug 2, 2016.

Many Wall Street Analysts have commented on Barrick Gold Corporation (USA). Barrick Gold Corporation (USA) was Upgraded by Jefferies to ” Buy” on Jul 14, 2016. Barrick Gold Corporation (USA) was Upgraded by CIBC to ” Sector Outperform” on Jun 27, 2016. Company shares were Reiterated by RBC Capital Mkts on May 9, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 18 from a previous price target of $16 .

On the company’s financial health, Barrick Gold Corporation (USA) reported $0.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.15. The company had revenue of $2012.00 million for the quarter, compared to analysts expectations of $2073.46 million. The company’s revenue was down -9.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.01 EPS.

Barrick Gold Corporation (USA) opened for trading at $21.65 and hit $22.1 on the upside on Friday, eventually ending the session at $21.86, with a gain of 2.77% or 0.59 points. The heightened volatility saw the trading volume jump to 1,47,74,066 shares. Company has a market cap of $25,472 M.

Barrick Gold Corporation (Barrick) is a gold mining company. The Company is engaged in the production and sale of gold and copper as well as related activities such as exploration and mine development. The Company operates in segments: eight individual gold mines Acacia and Pascua-Lama project. The remaining operating segments have been grouped into two other categories: its remaining gold mines and its two copper mines. The Company sells its production in the world market through the distribution channels: gold bullion is sold in the gold spot market; gold and copper concentrate is sold to independent smelting companies and copper cathode is sold to various manufacturers and traders. The Company has 14 producing gold mines located in Canada the United States Peru Argentina Australia the Dominican Republic and Papua New Guinea. It also holds a 63.9% equity interest in Acacia Mining plc (Acacia) that owns gold mines and exploration properties in Africa.

Barrick Gold Corporation (USA)

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