Barrick Gold (NYSE:ABX) (TSE:ABX) has been given a $16.00 price objective by analysts at BMO Capital Markets in a report released on Tuesday. The brokerage currently has a “hold” rating on the basic materials company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 10.88% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Berenberg Bank reiterated a “hold” rating on shares of Barrick Gold in a report on Tuesday, October 24th. Royal Bank of Canada set a $21.00 price target on shares of Barrick Gold and gave the company a “buy” rating in a report on Monday, October 30th. Jefferies Group restated a “buy” rating and set a $20.00 price target on shares of Barrick Gold in a report on Thursday, September 21st. Desjardins restated a “hold” rating on shares of Barrick Gold in a report on Monday, December 11th. Finally, TD Securities set a $20.00 price target on shares of Barrick Gold and gave the company a “hold” rating in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.55.
Shares of Barrick Gold (ABX) traded up $0.18 during trading hours on Tuesday, reaching $14.43. 7,289,163 shares of the company were exchanged, compared to its average volume of 12,250,527. The company has a market capitalization of $16,700.88, a PE ratio of 19.35, a PEG ratio of 9.49 and a beta of -0.42. Barrick Gold has a 12-month low of $13.28 and a 12-month high of $20.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.73 and a quick ratio of 1.56.
A number of hedge funds have recently added to or reduced their stakes in ABX. Franklin Resources Inc. lifted its stake in shares of Barrick Gold by 41.7% in the second quarter. Franklin Resources Inc. now owns 34,981,711 shares of the basic materials company’s stock valued at $556,558,000 after buying an additional 10,291,973 shares during the period. Marathon Asset Management LLP bought a new stake in shares of Barrick Gold in the third quarter valued at about $43,138,000. Flossbach Von Storch AG lifted its stake in shares of Barrick Gold by 8.1% in the third quarter. Flossbach Von Storch AG now owns 28,677,838 shares of the basic materials company’s stock valued at $461,427,000 after buying an additional 2,148,150 shares during the period. Investec Asset Management LTD lifted its stake in shares of Barrick Gold by 87.6% in the third quarter. Investec Asset Management LTD now owns 2,887,282 shares of the basic materials company’s stock valued at $46,441,000 after buying an additional 1,348,096 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Barrick Gold by 4.5% in the second quarter. Vanguard Group Inc. now owns 27,435,727 shares of the basic materials company’s stock valued at $436,503,000 after buying an additional 1,190,761 shares during the period. Institutional investors own 55.67% of the company’s stock.
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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.
