Barrick Gold Corporation (USA) (ABX) is Reiterated by Barclays to Equal Weight, Raises Price Target to $ 22

Barrick Gold Corporation (USA) (ABX) was Reiterated by Barclays to “Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 22 from a previous price target of $14 . Barclays advised their investors in a research report released on Aug 8, 2016.

Many Wall Street Analysts have commented on Barrick Gold Corporation (USA). Citigroup Initiated Barrick Gold Corporation (USA) on Aug 2, 2016 to “Buy”, Price Target of the shares are set at $29.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.

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) closed down -1.13 points or -5.05% at $21.24 with 2,35,04,291 shares getting traded on Friday. Post opening the session at $21.58, the shares hit an intraday low of $21.07 and an intraday high of $21.76 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Investors should note that on Jul 27, 2016, Barrick Gold Corporation (USA) announced a cash dividend of $0.0200. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 15, 2016.

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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