Barrick Gold Stock Rating Upgraded by Zacks (ABX)
Barrick Gold (NYSE:ABX) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued on Wednesday. The firm currently has a $18.00 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 5.45% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse raised their price target on shares of Barrick Gold from $20.00 to $21.00 in a research note on Monday, May 5th. Separately, analysts at HSBC upgraded shares of Barrick Gold from an “underweight” rating to a “neutral” rating in a research note on Tuesday, April 29th. They now have a $18.00 price target on the stock, up previously from $17.00. Finally, 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. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $21.22.
Barrick Gold (NYSE:ABX) traded up 1.26% on Wednesday, hitting $17.2851. The stock had a trading volume of 5,557,995 shares. Barrick Gold has a 52-week low of $13.43 and a 52-week high of $21.45. The stock has a 50-day moving average of $16.7 and a 200-day moving average of $18.07. The company’s market cap is $20.131 billion. Barrick Gold also was the recipient of a significant increase in short interest in the month of May. As of May 30th, there was short interest totalling 12,993,177 shares, an increase of 23.1% from the May 15th total of 10,551,583 shares. Based on an average daily volume of 8,946,068 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.1% of the company’s shares are sold short.
Barrick Gold (NYSE:ABX) last released its earnings data on Wednesday, April 30th. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.01. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The company’s quarterly revenue was down 22.6% on a year-over-year basis. Analysts expect that Barrick Gold will post $0.76 EPS 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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