Barrick Gold Corporation (ABX) PT Set at $20.00 by Jefferies Group LLC
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) has been assigned a $20.00 target price by stock analysts at Jefferies Group LLC in a research note issued on Thursday. The brokerage currently has a “buy” rating on the basic materials company’s stock. Jefferies Group LLC’s price objective suggests a potential upside of 24.77% from the company’s current price.
ABX has been the subject of a number of other reports. Royal Bank Of Canada restated an “outperform” rating on shares of Barrick Gold Corporation in a research report on Friday, August 18th. Deutsche Bank AG restated a “buy” rating and issued a $21.00 price objective (down from $22.00) on shares of Barrick Gold Corporation in a research report on Sunday, June 25th. Credit Suisse Group restated a “buy” rating and issued a $22.00 price objective on shares of Barrick Gold Corporation in a research report on Sunday, September 24th. BMO Capital Markets set a $18.00 price objective on Barrick Gold Corporation and gave the company a “hold” rating in a research report on Wednesday, August 23rd. Finally, BidaskClub upgraded Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $20.15.
Barrick Gold Corporation (NYSE:ABX) traded down 0.43% on Thursday, reaching $16.03. The company’s stock had a trading volume of 8,863,488 shares. The firm has a 50-day moving average of $16.77 and a 200 day moving average of $16.85. The company has a market capitalization of $18.69 billion, a price-to-earnings ratio of 7.94 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 posted its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.05. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Barrick Gold Corporation had a return on equity of 8.91% and a net margin of 26.95%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. On average, equities research analysts anticipate 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 added to or reduced their stakes in the business. FNY Managed Accounts LLC acquired a new position in Barrick Gold Corporation during the first quarter worth $116,000. 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 last quarter. FNY Partners Fund LP acquired a new position in Barrick Gold Corporation during the second quarter worth $159,000. F&V Capital Management LLC acquired a new position in Barrick Gold Corporation during the second quarter worth $161,000. Finally, Neuberger Berman Group LLC acquired a new position in Barrick Gold Corporation during the second quarter worth $161,000. 55.68% of the stock is currently 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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