Economy

Barrick Gold reports 3Q loss

First New York Securities LLC NY bought a new stake in shares of Barrick Gold Corporation during the second quarter worth $117,000. Gemmer Asset Management LLC now owns 8,148 shares of the company's stock worth $144,000 after buying an additional 7,948 shares during the last quarter. Finally, Gemmer Asset Management LLC increased its stake in shares of Barrick Gold Corporation by 3,974.0% in the third quarter. Franklin Resources Inc. grew its stake in Barrick Gold Corporation by 41.7% during the second quarter. The company's market cap is $2.29 Billion, and the average volume is $6.49 Million. 1832 Asset Management L.P. increased its stake in shares of Barrick Gold Corporation by 11.4% in the third quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Barrick Gold Corporation during the 2nd quarter worth $268,000. (The) reaffirmed a "buy" rating and set a $27.00 price objective on shares of Barrick Gold Corporation in a report on Wednesday, October 5th. If you are reading this news story on another domain, it was copied illegally and republished in violation of US & worldwide copyright & trademark law. The correct version of this news story can be viewed at https://weekherald.com/2017/10/26/barrick-gold-corporation-abx-announces-quarterly-earnings-results.html.

Barrick Gold Corporation (ABX) traded down 1.01% during mid-day trading on Wednesday, reaching $15.69. Flossbach Von Storch AG now owns 26,529,688 shares of the basic materials company's stock valued at $422,088,000 after acquiring an additional 13,576,086 shares in the last quarter. The 52-Week High range of the stock is $6.78, while the 52-week low range is $4.64.

The company's ATR (Average True Range) is 0.28. The firm has a market capitalization of $18.36 billion, a PE ratio of 7.80 and a beta of -0.34.

Barrick's adjusted earnings declined to $186 million, or 16 cents a share, in the quarter from $278 million, or 24 cents a share. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.03 billion. The company's revenue for the quarter was down.6% on a year-over-year basis.

Analysts had expected the company to earn $0.17 per share, according figures compiled by Thomson Reuters. -Earnings Decline (Y-o-Y): -33.1% -EPS (Q3): $0.16 vs. $0.24 past year.

Several analysts have recently issued reports on the company.

Acacia has been locked in a row with the government over the export ban as well as allegations it understated gold shipments, which Acacia denies. Credit Suisse Group downgraded Barrick Gold Corporation from an "outperform" rating to a "hold" rating and set a $19.00 price target on the stock.in a report on Thursday. Jefferies Group LLC set a $20.00 price target on Barrick Gold Corporation and gave the stock a "buy" rating in a report on Tuesday, August 15th.



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