Barrick Gold Corporation (NYSE:ABX) raking-in analyst attention
Market analysts have been very busy grading gold stocks lately. In a research report, Zacks has reissued their underperform-rating on Barrick Gold Corporation (NYSE:ABX)
ABX stock rose by 5.77% in Thursday’s trading session. The opening price of $18.49 touched an intraday high of $19.88 and dipped to a close of $19.81.
Almost 30.56M shares were traded in Thursday’s trading session while the average volume of shares that exchanged hands over a 30-day period was 18.01M. The company has a $13.43, 52-weel low and a $43.19, 52-week high. Currently, the 50-day moving average of the stock is $16.13. The company has a market cap of $19.38B.
Very recently, the company also announced its dividend for the quarter. It is scheduled for 16 September. Shareholders as of record on 30 August will receive a dividend of $0.05/share. This represents an annualized dividend of $0.20 and a 1.07% dividend yield. 28 August is the ex-dividend date.
The company has been subject numerous research reports. The Street analysts downgraded ABX shares and moved them from a “hold” to a “sell” rating on 5 August. Jeffries Group analysts hiked their price target from $14.00 to $15.00 on 2 August and have now set a “hold” rating on the stock. Cowen and Company analysts axed their price target for the company’s stock from $18.10 to $17.61 on 2 August and now have a “market perform’ rating on it.
Two different analysts have assigned a ”sell” rating on the stock, 15 have a “hold” rating while 6 have set a “buy” rating on it. Currently, the average rating on ABX stock is a “hold” and the average price target is $25.77.
Barrick Gold Corporation (NYSE:ABX) is involved in producing and selling gold and its related activities like mine development and exploration. The company is also a producer of copper, largely from its Lumwana and Zaldivar mines. It also holds other interests such as the nickel-development project located in Africa.