Today’s negative price action only highlights the equity’s longer-term technical troubles, with ABX off 59% year-over-year. However, the company has a healthy cash flow profile, enabling it to invest in attractive expansion opportunities.
The Johannesburg-based company’s output in the country was already down 18% in its first quarter even as costs rose 12% despite a fall in the value of the rand against the US dollar.
7/8/2015 – Barrick Gold had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co. Traders buying or selling on momentum look at stock price trends and believe that the stock will continue to move in the same direction.
6/25/2015 – Barrick Gold had its “neutral” rating reaffirmed by analysts at Credit Suisse.
Most of the large gold producers are profitable at $1,100 US gold, but they all have mines that lose money at these prices.
6/22/2015 – Barrick Gold had its “hold” rating reaffirmed by analysts at Deutsche Bank. Analysts at Credit Suisse reiterated a neutral rating and set a $12.50 price target (down previously from $13.00) on shares of Barrick Gold in a research note on Thursday, June 25th.
6/16/2015 – Barrick Gold is now covered by analysts at BMO Capital Markets. The consensus price target is $13.46, implying potential upside of around 72%. Barrick Gold Corporation has dropped 30.82% during the last 3-month period. (NYSE:ABX) traded down 2.40% on Friday, hitting $6.90. Post opening the session at $7.29, the shares hit an intraday low of $7.03 and an intraday high of $7.5 and the price vacillated in this range throughout the day.
The world’s most valuable gold stock, Vancouver’s Goldcorp (TSX:G) (NYSE:GG), fell 8% in both trading markets July 20.
Investors and analysts alike will be marking their calendars when Barrick Gold Corporation is expected to report earnings on 2015-08-05. The company had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.48 billion. Looking ahead on a three to five year basis, Wall Street is expecting earnings of $4.4 per share on the stock.
Randgold has been piling on the ounces at its mines in West and Central Africa, growing output 26% last year with a target of 1.2m ounces this year.
In terms of the surprise factor, the prior quarter expected EPS number by analysts was $0.1.
According to Zacks, Barrick Gold Corporation (NYSE:ABX) has been given a high momentum style score. Its Copper business unit contains producing copper mines located in Chile and Zambia. The Company’s gold operating units are: Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, Veladero, North America and Australia Pacific. Company price to sale ratio is 1.28 and has 0.20% insider ownership.