Barrick Gold Corporation (NYSE:ABX) raking-in analyst attention

Posted by Lynn Eisler August 16, 2013 0 Comment 1201 views

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.

Analysts aver

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.

The company
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.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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