Stock Update (NYSE:ABX): Barrick Gold Corporation (USA) Announces Implementation of Dividend Reinvestment Plan
Barrick Gold Corporation (USA) (NYSE:ABX) is pleased to announce that it has implemented its previously announced dividend reinvestment plan (the “Plan”). Shareholders who are residents of Canada or the United States may elect to participate in the Plan commencing with the dividend to be paid on September 15, 2015 to shareholders on record as of August 31, 2015. Participation in the Plan is optional and will not affect shareholders’ cash dividends unless they elect to participate in the Plan. Quarterly dividends are only payable as and when declared by Barrick’s Board of Directors and there is no entitlement to any dividend prior thereto. (Original Source)
Shares of Barrick Gold closed today at $7.87, up $0.19, or 2.47%. ABX has a 1-year high of $19.09 and a 1-year low of $6.52. The stock’s 50-day moving average is $8.42 and its 200-day moving average is $11.14.
On the ratings front, Barrick Gold has been the subject of a number of recent research reports. In a report issued on August 7, Barclays analyst Farooq Hamed upgraded ABX to Hold, with a price target of $10, which implies an upside of 27.1% from current levels. Separately, on the same day, J.P. Morgan’s John Bridges maintained a Hold rating on the stock and has a price target of $10.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Farooq Hamed and John Bridges have a total average return of -12.1% and -26.9% respectively. Hamed has a success rate of 26.1% and is ranked #3637 out of 3737 analysts, while Bridges has a success rate of 12.7% and is ranked #3726.
Barrick Gold Corp produces and sells gold and copper. The Company business activities also includes exploration and mine development. It holds interests in oil and gas properties located in Canada.