Barrick Gold Corporation (ABX) Given a $20.00 Price Target at TD Securities
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) has been assigned a $20.00 target price by stock analysts at TD Securities in a note issued to investors on Thursday. The firm currently has a “hold” rating on the basic materials company’s stock. TD Securities’ price objective points to a potential upside of 19.90% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the stock. Credit Suisse Group reiterated a “buy” rating and set a $22.00 price objective on shares of Barrick Gold Corporation in a research report on Sunday, September 24th. Jefferies Group LLC reiterated a “buy” rating and set a $20.00 price objective on shares of Barrick Gold Corporation in a research report on Thursday, September 21st. Royal Bank Of Canada reiterated an “outperform” rating on shares of Barrick Gold Corporation in a research report on Thursday, September 7th. Citigroup Inc. reiterated a “buy” rating on shares of Barrick Gold Corporation in a research report on Wednesday, September 6th. Finally, BMO Capital Markets set a $18.00 price objective on shares of Barrick Gold Corporation and gave the company a “hold” rating in a research report on Wednesday, August 23rd. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $20.15.
Barrick Gold Corporation (ABX) traded down 0.48% during trading on Thursday, reaching $16.68. 5,666,524 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $17.00 and its 200-day moving average is $16.97. The company has a market cap of $19.45 billion, a P/E ratio of 8.26 and a beta of -0.34. Barrick Gold Corporation has a 12-month low of $13.81 and a 12-month high of $20.78.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last released its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.05. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Barrick Gold Corporation had a net margin of 26.95% and a return on equity of 8.91%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 earnings per share. Analysts predict that Barrick Gold Corporation will post $0.75 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. boosted its stake in Barrick Gold Corporation by 116.4% during the second quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock worth $105,000 after buying an additional 3,543 shares during the period. FNY Managed Accounts LLC purchased a new position in Barrick Gold Corporation during the first quarter worth $116,000. FNY Partners Fund LP purchased a new position in Barrick Gold Corporation during the second quarter worth $159,000. F&V Capital Management LLC purchased a new position in Barrick Gold Corporation during the second quarter worth $161,000. Finally, Neuberger Berman Group LLC purchased a new position in Barrick Gold Corporation during the second quarter worth $161,000. 55.70% of the stock is owned by institutional investors.
About Barrick Gold Corporation
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.
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