Barrick Gold Corporation (USA) on Focus After Bearish Options Activity

 Barrick Gold Corporation (USA) on Focus After Bearish Options Activity

In today’s session Barrick Gold Corporation (USA) (ABX) recorded an unusually high (696) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious ABX decrease. With 696 contracts traded and 48594 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: ABX161021P00020000 closed last at: $2.39 or 7.2% up. About 37.03 million shares traded hands or 122.94% up from the average. Barrick Gold Corporation (USA) (NYSE:ABX) has risen 31.05% since March 1, 2016 and is uptrending. It has outperformed by 21.80% the S&P500.

Analysts await Barrick Gold Corporation (USA) (NYSE:ABX) to report earnings on October, 26. They expect $0.21 EPS, up 90.91% or $0.10 from last year’s $0.11 per share. ABX’s profit will be $239.28M for 18.44 P/E if the $0.21 EPS becomes a reality. After $0.14 actual EPS reported by Barrick Gold Corporation (USA) for the previous quarter, Wall Street now forecasts 50.00% EPS growth.

Barrick Gold Corporation (USA) (NYSE:ABX) Ratings Coverage

Out of 22 analysts covering Barrick Gold Corp. (NYSE:ABX), 11 rate it a “Buy”, 2 “Sell”, while 9 “Hold”. This means 50% are positive. $29 is the highest target while $7.50 is the lowest. The $14.84 average target is -4.20% below today’s ($15.49) stock price. Barrick Gold Corp. has been the topic of 44 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was maintained by HSBC on Tuesday, September 8 with “Buy”. The firm earned “Buy” rating on Monday, October 3 by Deutsche Bank. As per Friday, July 31, the company rating was upgraded by Canaccord Genuity. The firm has “Buy” rating given on Thursday, July 14 by Jefferies. The firm has “Outperform” rating given on Monday, June 27 by IBC. Citigroup initiated Barrick Gold Corporation (USA) (NYSE:ABX) on Tuesday, August 2 with “Buy” rating. As per Friday, February 19, the company rating was downgraded by Mackie. Sterne Agee CRT maintained the shares of ABX in a report on Monday, August 17 with “Neutral” rating. The stock of Barrick Gold Corporation (USA) (NYSE:ABX) has “Sector Perform” rating given on Friday, September 18 by RBC Capital Markets. Argus Research upgraded the shares of ABX in a report on Tuesday, March 15 to “Buy” rating.

Barrick Gold Corporation is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. The company has a market cap of $17.65 billion. The Firm produces copper, principally from its Zaldivar joint venture and Lumwana mine, and holds other interests. It currently has negative earnings. Barricks’ divisions include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Porgera, Kalgoorlie, Acacia Mining plc, Lumwana, Zaldivar and Pascua-Lama Project.

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