After the markets close Wednesday, Barrick Gold Corp. (NYSE: ABX) will report its fourth-quarter financial results. Thomson Reuters has consensus estimates of $0.13 in earnings per share (EPS) and $2.48 billion in revenue. In the fourth quarter of the previous year, the world’s largest gold mining company posted EPS of $0.37 and $2.93 billion in revenue.
Barrick stock has lost 38% in the past year. The company’s dividend yield is 1.7%, which should count as something of a miracle after the company wrote down $4.2 billion in 2013. The firm’s operating loss in 2013 totaled $8.8 billion. In early November, an analyst at J.P. Morgan recommended a pair trade: buy Newmont and sell Barrick, thinking that the merger between the two would come back with Barrick as the acquirer. Stranger things have happened.
24/7 Wall St. found a recent analyst call on Barrick to shed some more light on the stock. Citigroup reiterated a Buy rating and lowered the price target to $18 from $19. Ultimately this call implies an upside of nearly 50% from Tuesday’s close of $12.03. It is also the highest listed price target among analysts. The consensus price target of $13.37 only implies upside of about 11%.
The 50-day moving average currently resides under the share price at $11.63. Barrick shares crossed over that moving average in mid-January, but prior to that point the moving average had acted as resistance reaching back into the third quarter. The 200-day moving average is an overhang that reads at $14.88.
Shares of Barrick were down 0.8% at $11.93 in the first half of Wednesday’s trading day. The stock has a 52-week trading range of $10.04 to $21.45.
ALSO READ: A True Surprise in Global Gold Demand Trends for 2014, 2015 and Beyond
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
