Barrick Gold Given New $19.50 Price Target at Raymond James (ABX)
Equities researchers at Raymond James increased their price target on shares of Barrick Gold (NYSE:ABX) from $18.50 to $19.50 in a research report issued on Monday. Raymond James’ price objective would indicate a potential upside of 3.28% from the company’s current price.
Shares of Barrick Gold (NYSE:ABX) traded down 2.13% on Monday, hitting $18.88. The stock had a trading volume of 11,639,047 shares. Barrick Gold has a 52 week low of $14.92 and a 52 week high of $21.45. The stock’s 50-day moving average is $17.24 and its 200-day moving average is $18.29. The company’s market cap is $21.989 billion.
Barrick Gold (NYSE:ABX) last posted its quarterly earnings results 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 $0.77 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Barrick Gold in a research note on Monday. They now have a $24.00 price target on the stock, down previously from $26.00. Separately, analysts at JPMorgan Chase & Co. set a $17.00 price target on shares of Barrick Gold in a research note on Wednesday, July 9th. Finally, analysts at RBC Capital cut their price target on shares of Barrick Gold from $28.00 to $23.00 in a research note on Wednesday, July 9th. They now have an “outperform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $20.39.
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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