National Bankshares Lowers Barrick Gold (TSE:ABX) Price Target to C$28.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price reduced by stock analysts at National Bankshares from C$30.00 to C$28.00 in a report released on Friday, BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. National Bankshares’ price target would suggest a potential upside of 19.00% from the company’s current price.

ABX has been the subject of several other reports. Raymond James lowered their target price on Barrick Gold from C$28.00 to C$24.00 in a research note on Friday, February 16th. Berenberg Bank boosted their target price on Barrick Gold from C$29.00 to C$31.00 in a research note on Monday, April 8th. Stifel Nicolaus lowered their target price on Barrick Gold from C$30.00 to C$25.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Veritas Investment Research boosted their target price on Barrick Gold from C$20.70 to C$25.00 in a research note on Friday, April 12th. Finally, CIBC reissued an “outperform” rating and set a C$31.00 target price on shares of Barrick Gold in a research note on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$28.60.

Barrick Gold Price Performance

ABX stock opened at C$23.53 on Friday. The company has a current ratio of 3.16, a quick ratio of 2.62 and a debt-to-equity ratio of 16.32. The company has a market capitalization of C$41.41 billion, a PE ratio of 23.77, a P/E/G ratio of 1.94 and a beta of 0.46. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$28.19. The business’s fifty day moving average price is C$21.59 and its 200 day moving average price is C$22.01.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.28 by C$0.09. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%. The firm had revenue of C$4.16 billion for the quarter, compared to the consensus estimate of C$4.28 billion. On average, sell-side analysts anticipate that Barrick Gold will post 1.196793 EPS for the current year.

About Barrick Gold

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.