RBC Capital Lowers Barrick Gold Corp. Price Target to C$23.00 (ABX)
Analysts at RBC Capital dropped their price target on shares of Barrick Gold Corp. (TSE:ABX) from C$28.00 to C$23.00 in a research report issued to clients and investors on Wednesday. RBC Capital’s price target would indicate a potential upside of 14.20% from the company’s current price.
Barrick Gold Corp. (TSE:ABX) traded up 0.95% on Wednesday, hitting $20.14. The stock had a trading volume of 3,776,384 shares. Barrick Gold Corp. has a 52 week low of $14.22 and a 52 week high of $23.78. The stock has a 50-day moving average of $18.45 and a 200-day moving average of $20.02. The company’s market cap is $23.456 billion.
Barrick Gold Corp. (TSE:ABX) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.25 by $0.03. On average, analysts predict that Barrick Gold Corp. will post $0.84 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on ABX. Analysts at TD Securities cut their price target on shares of Barrick Gold Corp. from C$21.00 to C$20.00 in a research note on Thursday, May 1st. They now have a “hold” rating on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Barrick Gold Corp. from C$20.00 to C$19.00 in a research note on Thursday, May 1st. They now have a “sell” rating on the stock. Finally, analysts at HSBC upgraded shares of Barrick Gold Corp. from an “underweight” rating to a “neutral” rating in a research note on Tuesday, April 29th. They now have a C$18.00 price target on the stock, up previously from C$17.00. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of C$18.66.
Barrick Gold Corporation (TSE: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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