Barrick Gold Trading Up 1.8% on Analyst Upgrade (ABX)
Barrick Gold (NYSE:ABX) shares rose 1.8% during trading on Tuesday after Morgan Stanley raised their price target on the stock from $20.00 to $20.50, StockRatingsNetwork reports. The company traded as high as $18.67 and last traded at $18.64, with a volume of 10,064,603 shares trading hands. The stock had previously closed at $18.31.
Several other analysts have also recently commented on the stock. 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 research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. Barrick Gold presently has a consensus rating of “Hold” and an average price target of $21.21.
The stock’s 50-day moving average is $16.98 and its 200-day moving average is $18.25. The company’s market cap is $21.744 billion.
Barrick Gold (NYSE:ABX) last announced its earnings results on Wednesday, April 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter 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.
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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