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Strong Upward Pre-Market Activity For Barrick Gold Corporation (ABX)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Barrick Gold Corporation ( ABX) as a pre-market leader candidate. In addition to specific proprietary factors, Trade-Ideas identified Barrick Gold Corporation as such a stock due to the following factors:

  • ABX has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $232.4 million.
  • ABX traded 74,859 shares today in the pre-market hours as of 8:52 AM.
  • ABX is up 2.3% today from yesterday's close.

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More details on ABX:

Barrick Gold Corporation engages in the production and sale of gold and copper. It is also involved in exploration and mine development activities. The stock currently has a dividend yield of 1%. Currently there are 2 analysts that rate Barrick Gold Corporation a buy, 1 analyst rates it a sell, and 15 rate it a hold.

The average volume for Barrick Gold Corporation has been 13.3 million shares per day over the past 30 days. Barrick has a market cap of $20.8 billion and is part of the basic materials sector and metals & mining industry. Shares are up 5.6% year-to-date as of the close of trading on Wednesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Barrick Gold Corporation as a sell. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.

Highlights from the ratings report include:

  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Metals & Mining industry and the overall market, BARRICK GOLD CORP's return on equity significantly trails that of both the industry average and the S&P 500.
  • Net operating cash flow has decreased to $1,016.00 million or 39.23% when compared to the same quarter last year. In conjunction, when comparing current results to the industry average, BARRICK GOLD CORP has marginally lower results.
  • ABX's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 38.45%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
  • The company, on the basis of net income growth from the same quarter one year ago, has underperformed when compared to that of the S&P 500 and greatly underperformed compared to the Metals & Mining industry average. The net income increased by 6.1% when compared to the same quarter one year prior, going from -$3,013.00 million to -$2,830.00 million.
  • The revenue fell significantly faster than the industry average of 7.9%. Since the same quarter one year prior, revenues fell by 29.5%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.

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