Barrick Gold Corporation (USA) (NYSE:ABX) a Sell: Barclays

In a research note issued to investors, Farooq Hamed at Barclays Reiterated their Sell rating on Barrick Gold Corporation (USA) (NYSE:ABX). The analyst placed a $12.00 price target on the stock which indicates a 5.36% downside to the last closing price. In the year following Hamed’s ratings, the stocks covered yield an average return of -5.4% according to In the past year 12 out of 37 recommendations or 32% were successful.

Barrick Gold Corporation (USA) (NYSE:ABX) shares opened the most recent trading session at 12.66 and at the time of writing the last Bid was at 12.83. In the current trading session the stock reached as high as 13.0286 and dipped down to 12.62. Barrick Gold Corp, a NYSE listed company, has a current market cap of 14.925B and on average over the past 3 months has seen 19232300 shares trade hands on a daily basis.

On a technical level the stock has a 50 Day Moving Average of 12.0653. Based on a recent trade, this puts the equity at +6.21% away from that average. In comparing the stock’s current level to its extended history, the stock is trading -40.26% away from it’s 52-week high of 21.45 and +27.64% away from the stock’s low point over the past 52 weeks, which was 10.04. On a consensus basis, analysts have a one year target price of 13.53. The company last reported earnings per share of -2.527.

The consensus analyst estimates according to First Call for the next quarter is 0.16. The current year EPS estimate on the stock is 0.67 and the EPS estimate for next year sits at 0.86. In looking at the fundamentals, ABX has a P/E ratio of N/A and a price to book ratio of 1.13. The company’s Book Value is 11.365 and most recently reported EBITDA of 4.595B. The price compared to next year’s EPS estimate in the current year is 14.99.

Company Profile

Barrick Gold Corporation (USA) (ABX) operates mines and advanced exploration and development projects. The Company operates mines or projects in Canada, the United States, the Dominican Republic, Australia, Papua New Guinea, Peru, Chile, Argentina, Zambia, Saudi Arabia and Tanzania. The Company’s gold operating units are: Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, Veladero, North America and Australia Pacific. As of December 31, 2013, the Company’s mineral reserves were 104.1 million ounces of gold, 888 million ounces of silver contained within gold reserves, and 14.0 billion pounds of copper. The Company’s Veladero mine, a conventional open-pit operation, is located in the San Juan Province of Argentina. The Company’s Hemlo property consists of David Bell, an underground mine, and Williams, an underground and open pit mine, located in Thunder Bay, Ontario.