Jefferies Upgrades Barrick Gold Corporation (USA) to Buy

Brokerage firm Jefferies 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 Jefferies was issued on Jul 14, 2016.

In a different note, 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. On Apr 18, 2016, Clarkson Platou said it Upgrades its rating on Barrick Gold Corporation (USA). The shares have been rated ‘Buy’ by the firm.

Barrick Gold Corporation (USA) (ABX) made into the market gainers list on Mondays trading session with the shares advancing 0.98% or 0.21 points. Due to strong positive momentum, the stock ended at $21.61, which is also near the day’s high of $21.625. The stock began the session at $21.42 and the volume stood at 1,00,88,402 shares. The 52-week high of the shares is $23.47 and the 52 week low is $5.91. The company has a current market capitalization of $25,180 M and it has 1,16,52,15,210 shares in outstanding.

Barrick Gold Corporation (USA)(ABX) last announced its earnings results on Apr 26, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $1.93B. Analysts had an estimated revenue of $1.97B. Earnings per share were $0.11. Analysts had estimated an EPS of $0.09.

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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