What Will Happen to Barrick Gold Corporation (USA) Next? The Stock Just Had Huge Bullish Options Activity

 What Will Happen to Barrick Gold Corporation (USA) Next? The Stock Just Had Huge Bullish Options Activity

In today’s session Barrick Gold Corporation (USA) (ABX) registered an unusually high (702) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the June, 2017 call, expecting serious ABX increase. With 702 contracts traded and 2054 open interest for the Jun, 17 contract, it seems this is a quite bullish bet. The option with symbol: ABX170616C00015000 closed last at: $1.97 or 15.8% down. About 7.67 million shares traded hands. Barrick Gold Corporation (USA) (NYSE:ABX) has declined 8.38% since April 25, 2016 and is downtrending. It has underperformed by 14.39% the S&P500.

Analysts await Barrick Gold Corporation (USA) (NYSE:ABX) to report earnings on February, 15. They expect $0.21 earnings per share, up 162.50% or $0.13 from last year’s $0.08 per share. ABX’s profit will be $247.87 million for 18.15 P/E if the $0.21 EPS becomes a reality. After $0.24 actual earnings per share reported by Barrick Gold Corporation (USA) for the previous quarter, Wall Street now forecasts -12.50% negative 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”, 1 “Sell”, while 10 “Hold”. This means 50% are positive. $29 is the highest target while $7.50 is the lowest. The $15.78 average target is 3.48% above today’s ($15.25) stock price. Barrick Gold Corp. has been the topic of 46 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm earned “Sell” rating on Friday, July 31 by Canaccord Genuity. The stock of Barrick Gold Corporation (USA) (NYSE:ABX) earned “Sector Perform” rating by IBC on Friday, July 24. The firm has “Buy” rating given on Friday, January 8 by Sterne Agee CRT. The stock of Barrick Gold Corporation (USA) (NYSE:ABX) has “Buy” rating given on Thursday, July 14 by Jefferies. The rating was initiated by Berenberg on Wednesday, September 7 with “Sell”. The stock of Barrick Gold Corporation (USA) (NYSE:ABX) earned “Sector Perform” rating by RBC Capital Markets on Friday, September 18. The company was upgraded on Monday, June 27 by IBC. As per Tuesday, March 15, the company rating was maintained by JP Morgan. Macquarie Research upgraded Barrick Gold Corporation (USA) (NYSE:ABX) on Wednesday, August 19 to “Neutral” rating. The rating was downgraded by Barclays Capital on Friday, August 7 to “Equal Weight”.

According to Zacks Investment Research, “Barrick Gold Corporation is a leading international gold producer with low-cost mines in North and South America.”

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 $18.00 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.

ABX Company Profile

Barrick Gold Corporation (Barrick), incorporated on March 10, 1995, is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. The Firm produces copper, principally from its Zaldivar joint venture and Lumwana mine, and holds other interests. The Company’s divisions include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Porgera, Kalgoorlie, Acacia Mining plc (Acacia), Lumwana, Zaldivar and Pascua-Lama Project.

More important recent Barrick Gold Corporation (USA) (NYSE:ABX) news were published by: Investorplace.com which released: “Why Barrick Gold Corporation (USA) (ABX), Sturm Ruger & Company Inc (RGR) and …” on November 10, 2016, also Investorplace.com published article titled: “Barrick Gold Corporation (USA): 3 Pros, 3 Cons of ABX Stock”, Investorplace.com published: “Barrick Gold Corporation (USA) (ABX)” on August 24, 2016. More interesting news about Barrick Gold Corporation (USA) (NYSE:ABX) was released by: Investorplace.com and their article: “Trade of the Day: Barrick Gold Corporation (USA) (NYSE:ABX)” with publication date: October 10, 2016.

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