Canaccord Genuity Upgrades Barrick Gold Corporation (USA) to Buy

Brokerage firm Canaccord Genuity Upgrades its rating on Barrick Gold Corporation (USA)(NYSE:ABX). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Canaccord Genuity was issued on Jul 28, 2016.

In a different note, On Jul 14, 2016, Jefferies said it Upgrades its rating on Barrick Gold Corporation (USA). The shares have been rated ‘Buy’ by the firm. On Jun 27, 2016, CIBC said it Upgrades its rating on Barrick Gold Corporation (USA). The shares have been rated ‘Outperform’ by the firm. On Jun 20, 2016, Mackie Research said it Downgrades its rating on Barrick Gold Corporation (USA). The shares have been rated ‘Sell’ by the firm. On Jun 8, 2016, Goldman Sachs said it Maintains its rating on Barrick Gold Corporation (USA). In the research note, the firm Raises the price-target to $22.00 per share. The shares have been rated ‘Buy’ by the firm. On May 3, 2016, Canaccord Genuity said it Downgrades its rating on Barrick Gold Corporation (USA). The shares have been rated ‘Hold’ by the firm.

Barrick Gold Corporation (USA) (ABX) shares turned negative on Thursdays trading session with the shares closing down -0.05 points or -0.22% at a volume of 1,20,75,157. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $22.7. The peak price level was also seen at $22.7 while the days lowest was $22.35. Finally the shares closed at $22.37. The 52-week high of the shares is $23.47 while the 52-week low is $5.91. According to the latest information available, the market cap of the company is $26,068 M.

Barrick Gold Corporation (USA) has also declared a cash dividend of $0.0200 on Jul 27, 2016. The shares will quote ex-dividend on Aug 29, 2016 and the record date has been fixed on Aug 31, 2016. The dividend payable date has been fixed on Sep 15, 2016.

Barrick Gold Corporation (USA)(ABX) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.01B. Analysts had an estimated revenue of $2.05B. Earnings per share were $0.14. Analysts had estimated an EPS of $0.14.

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.

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