Barrick Gold Corporation (USA) Can’t Be More Risky. Option Traders Sell It

In today’s session Barrick Gold Corporation (USA) (ABX) recorded an unusually high (1,391) 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 1,391 contracts traded and 10274 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: ABX161021P00012000 closed last at: $1.16 or 10.1% down. The stock is down 0.28% or $0.04 after the news, hitting $14 per share. About 18.28M shares traded hands. Barrick Gold Corporation (USA) (NYSE:ABX) has risen 65.17% since August 20, 2015 and is uptrending. It has outperformed by 65.11% the S&P500.

Analysts await Barrick Gold Corporation (USA) (NYSE:ABX) to reports earnings on April, 25. They expect $0.07 EPS, up 40.00% or $0.02 from last year’s $0.05 per share. ABX’s profit will be $82.20M for 50.00 P/E if the $0.07 EPS becomes reality. After $0.08 actual EPS reported by Barrick Gold Corporation (USA) for the previous quarter, Wall Street now forecasts -12.50% negative EPS growth.

Out of 23 analysts covering Barrick Gold Corp. (NYSE:ABX), 12 rate it “Buy”, 1 “Sell”, while 12 “Hold”. This means 48% are positive. Barrick Gold Corp. was the topic in 34 analyst reports since August 6, 2015 according to StockzIntelligence Inc.

Barrick Gold Corporation is a gold mining company. The company has a market cap of $16.44 billion. The Firm is engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. It currently has negative earnings. The Firm operates in divisions: eight individual gold mines, Acacia and Pascua-Lama project.

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