Barrick Gold (NYSE:ABX) (TSE:ABX) had its target price boosted by stock analysts at TD Securities from $17.00 to $17.50 in a report released on Friday. The firm presently has a “hold” rating on the basic materials company’s stock. TD Securities’ target price indicates a potential upside of 15.74% from the company’s current price.
Several other equities research analysts have also recently weighed in on ABX. Jefferies Group reissued a “buy” rating and issued a $20.00 price target on shares of Barrick Gold in a research note on Thursday, September 21st. Credit Suisse Group reissued a “buy” rating and issued a $22.00 price target on shares of Barrick Gold in a research note on Sunday, September 24th. Berenberg Bank reissued a “hold” rating on shares of Barrick Gold in a research note on Tuesday, October 24th. CSFB decreased their price target on Barrick Gold from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, October 26th. Finally, TheStreet cut Barrick Gold from a “b-” rating to a “c” rating in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.48.
Barrick Gold (NYSE ABX) traded up $0.47 during trading on Friday, reaching $15.12. The company’s stock had a trading volume of 15,250,000 shares, compared to its average volume of 10,200,000. The company has a quick ratio of 1.56, a current ratio of 2.73 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $17,660.00, a P/E ratio of 8.09, a PEG ratio of 8.45 and a beta of -0.42. Barrick Gold has a 1 year low of $13.28 and a 1 year high of $20.78.
Barrick Gold (NYSE:ABX) (TSE:ABX) last posted its earnings results on Wednesday, October 25th. The basic materials company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.02 billion. Barrick Gold had a net margin of 25.72% and a return on equity of 7.73%. Barrick Gold’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 earnings per share. equities research analysts forecast that Barrick Gold will post 0.75 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABX. Marathon Asset Management LLP acquired a new stake in Barrick Gold during the third quarter worth approximately $43,138,000. Flossbach Von Storch AG grew its stake in Barrick Gold by 8.1% during the third quarter. Flossbach Von Storch AG now owns 28,677,838 shares of the basic materials company’s stock worth $461,427,000 after purchasing an additional 2,148,150 shares during the period. Investec Asset Management LTD grew its stake in Barrick Gold by 87.6% during the third quarter. Investec Asset Management LTD now owns 2,887,282 shares of the basic materials company’s stock worth $46,441,000 after purchasing an additional 1,348,096 shares during the period. Vanguard Group Inc. grew its stake in Barrick Gold by 4.5% during the second quarter. Vanguard Group Inc. now owns 27,435,727 shares of the basic materials company’s stock worth $436,503,000 after purchasing an additional 1,190,761 shares during the period. Finally, Capital Research Global Investors grew its stake in Barrick Gold by 40.2% during the second quarter. Capital Research Global Investors now owns 3,175,587 shares of the basic materials company’s stock worth $50,521,000 after purchasing an additional 909,926 shares during the period. 55.65% of the stock is owned by institutional investors and hedge funds.
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About Barrick Gold
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.