Barrick Gold (ABX) Set to Announce Quarterly Earnings on Wednesday

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Barrick Gold (TSE:ABX) (NYSE:ABX) is set to issue its quarterly earnings data before the market opens on Wednesday, October 24th. Analysts expect the company to announce earnings of C$0.20 per share for the quarter.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Wednesday, July 25th. The company reported C$0.09 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.16 by C($0.07). Barrick Gold had a negative return on equity of 27.89% and a negative net margin of 36.36%. The business had revenue of C$2.21 billion during the quarter, compared to analysts’ expectations of C$2.20 billion.

Shares of TSE ABX opened at C$17.29 on Monday. Barrick Gold has a twelve month low of C$12.54 and a twelve month high of C$20.51.

In related news, Director John Lawson Thornton purchased 2,105,340 shares of the stock in a transaction that occurred on Friday, September 28th. The shares were bought at an average price of C$11.10 per share, with a total value of C$23,369,274.00. Also, Director Pablo Marcet purchased 3,500 shares of the stock in a transaction that occurred on Wednesday, September 26th. The stock was bought at an average cost of C$11.06 per share, for a total transaction of C$38,710.00. Insiders bought a total of 2,274,529 shares of company stock worth $25,248,789 in the last 90 days.

A number of brokerages have recently weighed in on ABX. Canaccord Genuity cut their target price on Barrick Gold from C$19.00 to C$17.00 in a research note on Tuesday, July 24th. Royal Bank of Canada restated a “sector perform” rating on shares of Barrick Gold in a research note on Wednesday, September 26th. Cormark cut their target price on Barrick Gold from C$17.00 to C$16.50 in a research note on Sunday, October 14th. Finally, JPMorgan Chase & Co. boosted their target price on Barrick Gold from C$17.00 to C$18.00 in a research note on Friday, October 5th. Seven analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of C$18.69.

About Barrick Gold

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.

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Earnings History for Barrick Gold (TSE:ABX)

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