National Bank Financial Increases Barrick Gold (NYSE:GOLD) Price Target to C$30.00
Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) had its target price hoisted by analysts at National Bank Financial from C$25.00 to C$30.00 in a research note issued on Friday, The Fly reports.
Other equities analysts have also recently issued research reports about the stock. Barclays lowered their price objective on shares of Barrick Gold from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, November 21st. Fundamental Research reiterated a “buy” rating and issued a $19.90 price objective (down previously from $23.42) on shares of Barrick Gold in a report on Tuesday, November 15th. Raymond James lowered their target price on Barrick Gold from $24.50 to $23.00 and set an “outperform” rating for the company in a report on Friday, November 4th. Stifel Nicolaus cut their price target on shares of Barrick Gold from C$35.25 to C$33.00 in a research note on Wednesday, October 19th. Finally, TD Securities lowered their price objective on shares of Barrick Gold from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.99.
Barrick Gold Trading Up 1.1 %
GOLD stock traded up $0.22 during trading on Friday, reaching $19.65. 970,646 shares of the stock were exchanged, compared to its average volume of 18,512,383. The business has a 50 day moving average price of $16.86 and a 200-day moving average price of $16.12. Barrick Gold has a 1 year low of $13.01 and a 1 year high of $26.07. The company has a current ratio of 3.76, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $34.49 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 11.37 and a beta of 0.28.
Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last released its quarterly earnings results on Thursday, November 3rd. The gold and copper producer reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $3.09 billion. Barrick Gold had a net margin of 16.39% and a return on equity of 5.34%. On average, research analysts predict that Barrick Gold will post 0.8 earnings per share for the current year.
Institutional Investors Weigh In On Barrick Gold
Several institutional investors have recently modified their holdings of GOLD. Fairfield Bush & CO. acquired a new stake in Barrick Gold in the first quarter valued at $42,000. Acadian Asset Management LLC acquired a new stake in shares of Barrick Gold during the 1st quarter worth about $647,000. Blair William & Co. IL lifted its stake in Barrick Gold by 288.8% during the first quarter. Blair William & Co. IL now owns 90,896 shares of the gold and copper producer’s stock worth $2,230,000 after purchasing an additional 67,516 shares during the last quarter. Sei Investments Co. boosted its holdings in Barrick Gold by 97.2% in the first quarter. Sei Investments Co. now owns 230,278 shares of the gold and copper producer’s stock valued at $5,651,000 after purchasing an additional 113,486 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in Barrick Gold by 17.7% in the first quarter. Allianz Asset Management GmbH now owns 1,007,571 shares of the gold and copper producer’s stock valued at $24,620,000 after purchasing an additional 151,763 shares during the last quarter. 56.82% of the stock is owned by hedge funds and other institutional investors.
About Barrick Gold
Barrick Gold Corporation is a sector-leading gold and copper producer. Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.
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