Barrick Gold Price Target Lowered to $22.00 at CIBC (ABX)
Research analysts at CIBC lowered their price target on shares of Barrick Gold (NYSE:ABX) from $23.00 to $22.00 in a report released on Friday. CIBC’s target price suggests a potential upside of 17.71% from the stock’s previous close.
Shares of Barrick Gold (NYSE:ABX) opened at 18.69 on Friday. Barrick Gold has a 1-year low of $15.26 and a 1-year high of $21.45. The stock has a 50-day moving average of $18.45 and a 200-day moving average of $18.38. The company’s market cap is $21.768 billion.
Barrick Gold (NYSE:ABX) last announced its earnings results on Wednesday, July 30th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.28 by $0.14. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $133.95 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was down 24.0% on a year-over-year basis. On average, analysts predict that Barrick Gold will post $0.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, August 27th.
A number of other analysts have also recently weighed in on ABX. Analysts at Goldman Sachs reiterated a “conviction-buy” rating on shares of Barrick Gold in a research note on Friday. They now have a $18.49 price target on the stock, down previously from $22.00. Separately, analysts at RBC Capital raised their price target on shares of Barrick Gold from $23.00 to $25.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Barrick Gold in a research note on Friday, August 1st. They now have a $21.00 price target on the stock, down previously from $22.00. Four analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $21.03.
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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