Barrick Gold Stock Rating Upgraded by Goldman Sachs (ABX)
Barrick Gold (NYSE:ABX) was upgraded by Goldman Sachs from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $21.00 price target on the stock. Goldman Sachs’ price objective would indicate a potential upside of 19.66% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company raised their price target on shares of Barrick Gold from $15.48 to $18.49 in a research note on Friday, March 21st. Separately, analysts at Zacks downgraded shares of Barrick Gold from a “neutral” rating to an “underperform” rating in a research note on Wednesday, March 19th. They now have a $18.00 price target on the stock. Finally, analysts at Raymond James initiated coverage on shares of Barrick Gold in a research note on Monday, March 3rd. They set a “market perform” rating on the stock. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $21.43.
Barrick Gold (NYSE:ABX) traded up 1.56% on Tuesday, hitting $17.55. The stock had a trading volume of 18,948,460 shares. Barrick Gold has a 52-week low of $13.43 and a 52-week high of $21.70. The stock’s 50-day moving average is $19.06 and its 200-day moving average is $18.4. The company’s market cap is $20.440 billion. Barrick Gold also saw unusually large options trading activity on Monday. Investors bought 33,846 call options on the stock. This represents an increase of 113% compared to the average daily volume of 15,896 call options.
Barrick Gold (NYSE:ABX) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.37 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.44 by $0.07. The company had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the company posted $1.11 earnings per share. Barrick Gold’s revenue was down 29.5% compared to the same quarter last year. On average, analysts predict that Barrick Gold will post $0.96 earnings per share for the current fiscal year.
Barrick Gold Corporation (NYSE:ABX) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development.
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