Barrick Gold (NYSE:ABX) (TSE:ABX) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report released on Monday, Marketbeat.com reports. The firm currently has a $16.00 target price on the basic materials company’s stock, down from their prior target price of $17.00. Royal Bank of Canada’s price target would suggest a potential upside of 31.90% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. Jefferies Group set a $17.00 target price on shares of Barrick Gold and gave the stock a “buy” rating in a report on Thursday, February 15th. Zacks Investment Research upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Monday, January 8th. Morgan Stanley reduced their target price on shares of Barrick Gold from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. BMO Capital Markets set a $16.00 target price on shares of Barrick Gold and gave the stock a “hold” rating in a report on Tuesday, December 19th. Finally, Desjardins reiterated a “hold” rating on shares of Barrick Gold in a report on Monday, December 11th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. Barrick Gold presently has an average rating of “Hold” and a consensus price target of $17.26.
Shares of Barrick Gold (NYSE ABX) traded up $0.31 during trading on Monday, reaching $12.13. 18,220,000 shares of the company’s stock were exchanged, compared to its average volume of 14,750,000. The company has a market capitalization of $14,150.00, a P/E ratio of 12.90, a PEG ratio of 6.77 and a beta of -0.12. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.68 and a quick ratio of 1.60. Barrick Gold has a fifty-two week low of $11.07 and a fifty-two week high of $20.36.
Several institutional investors and hedge funds have recently bought and sold shares of ABX. Cambridge Investment Research Advisors Inc. increased its holdings in Barrick Gold by 27.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 62,970 shares of the basic materials company’s stock worth $911,000 after buying an additional 13,389 shares during the period. Meitav Dash Investments Ltd. acquired a new position in Barrick Gold in the 4th quarter worth approximately $195,000. Gotham Asset Management LLC increased its holdings in Barrick Gold by 23.5% in the 4th quarter. Gotham Asset Management LLC now owns 469,515 shares of the basic materials company’s stock worth $6,794,000 after buying an additional 89,248 shares during the period. Reilly Herbert Faulkner III increased its holdings in Barrick Gold by 42.3% in the 4th quarter. Reilly Herbert Faulkner III now owns 338,359 shares of the basic materials company’s stock worth $4,896,000 after buying an additional 100,624 shares during the period. Finally, LPL Financial LLC increased its holdings in Barrick Gold by 21.6% in the 4th quarter. LPL Financial LLC now owns 135,510 shares of the basic materials company’s stock worth $1,961,000 after buying an additional 24,041 shares during the period. Hedge funds and other institutional investors own 52.88% of the company’s stock.
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Barrick Gold Company Profile
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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