Stock Traders Purchase Large Volume of Barrick Gold Corporation Put Options (ABX)

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) was the recipient of unusually large options trading activity on Thursday. Traders acquired 18,285 put options on the company. This represents an increase of approximately 371% compared to the typical daily volume of 3,886 put options.

Barrick Gold Corporation (NYSE:ABX) traded down 1.25% during trading on Friday, reaching $16.64. The company’s stock had a trading volume of 13,798,715 shares. The company’s 50-day moving average is $16.35 and its 200-day moving average is $17.51. The stock has a market cap of $19.40 billion, a PE ratio of 8.24 and a beta of -0.23. Barrick Gold Corporation has a 12 month low of $13.81 and a 12 month high of $20.78.

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last released its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.05. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.03 billion. Barrick Gold Corporation had a return on equity of 8.91% and a net margin of 26.95%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. Equities analysts expect that Barrick Gold Corporation will post $0.73 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.72%. Barrick Gold Corporation’s payout ratio is 5.94%.

Several equities research analysts have recently commented on the stock. Scotiabank restated a “sector perform” rating and issued a $22.50 target price on shares of Barrick Gold Corporation in a research note on Tuesday, April 25th. TD Securities restated a “hold” rating and issued a $20.00 target price on shares of Barrick Gold Corporation in a research note on Tuesday, April 25th. BidaskClub upgraded shares of Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Royal Bank Of Canada restated a “buy” rating and issued a $23.00 target price on shares of Barrick Gold Corporation in a research note on Wednesday, May 24th. Finally, Jefferies Group LLC set a $20.00 target price on shares of Barrick Gold Corporation and gave the company a “buy” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $20.59.

Several hedge funds and other institutional investors have recently made changes to their positions in ABX. Quadrant Capital Group LLC boosted its position in shares of Barrick Gold Corporation by 275.8% in the first quarter. Quadrant Capital Group LLC now owns 5,592 shares of the basic materials company’s stock valued at $104,000 after buying an additional 4,104 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Barrick Gold Corporation by 116.4% in the second quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock valued at $105,000 after buying an additional 3,543 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Barrick Gold Corporation by 9.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 5,608 shares of the basic materials company’s stock valued at $106,000 after buying an additional 506 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in Barrick Gold Corporation during the first quarter valued at $116,000. Finally, Gemmer Asset Management LLC acquired a new position in Barrick Gold Corporation during the first quarter valued at $155,000. 58.68% of the stock is currently owned by institutional investors.

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Barrick Gold Corporation Company Profile

Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.

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