Barrick Gold Given New $20.50 Price Target at Morgan Stanley (ABX)
Stock analysts at Morgan Stanley increased their price target on shares of Barrick Gold (NYSE:ABX) from $20.00 to $20.50 in a report issued on Tuesday. Morgan Stanley’s price target would indicate a potential upside of 9.68% from the company’s current price.
Shares of Barrick Gold (NYSE:ABX) traded up 2.08% on Tuesday, hitting $18.69. The stock had a trading volume of 19,592,148 shares. Barrick Gold has a one year low of $13.79 and a one year high of $21.45. The stock has a 50-day moving average of $17.03 and a 200-day moving average of $18.26. The company’s market cap is $21.768 billion.
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 $0.78 EPS for the current fiscal year.
A number of other firms have also recently commented on ABX. Analysts at Zacks upgraded shares of Barrick Gold from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 18th. They now have a $18.00 price target on the stock. Separately, 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. Finally, 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. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company. The company 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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