Barrick Gold Upgraded to “Neutral” by HSBC (ABX)
Barrick Gold (NYSE:ABX) was upgraded by research analysts at HSBC from an “underweight” rating to a “neutral” rating in a report released on Tuesday, TheFlyOnTheWall.com reports.
Shares of Barrick Gold (NYSE:ABX) opened at 17.33 on Tuesday. Barrick Gold has a 52 week low of $13.43 and a 52 week high of $21.70. The stock has a 50-day moving average of $18.72 and a 200-day moving average of $18.45. The company’s market cap is $20.183 billion.
Barrick Gold (NYSE:ABX) last released its earnings data 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. Analysts expect that Barrick Gold will post $0.93 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs upgraded shares of Barrick Gold from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 22nd. They now have a $21.00 price target on the stock. Separately, 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. Finally, 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. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. Barrick Gold has a consensus rating of “Hold” and an average target price of $21.21.
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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