Barrick Gold (NYSE:GOLD) Price Target Increased to $28.00 by Analysts at Raymond James

Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) had its price objective upped by equities researchers at Raymond James from $27.00 to $28.00 in a research note issued on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the gold and copper producer’s stock. Raymond James’ price target suggests a potential upside of 10.02% from the stock’s current price.

Several other analysts have also issued reports on GOLD. Zacks Investment Research upgraded shares of Barrick Gold from a “strong sell” rating to a “hold” rating and set a $19.00 price target on the stock in a research report on Tuesday, December 21st. Jefferies Financial Group upped their price target on Barrick Gold from $23.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, March 9th. TD Securities lowered Barrick Gold from an “action list buy” rating to a “buy” rating and set a $31.00 price objective on the stock. in a report on Wednesday, April 13th. The Goldman Sachs Group lowered Barrick Gold from a “neutral” rating to a “sell” rating in a report on Monday, January 17th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Barrick Gold in a report on Monday, December 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $27.70.

NYSE GOLD traded up $0.25 on Monday, hitting $25.45. The stock had a trading volume of 878,801 shares, compared to its average volume of 21,976,494. Barrick Gold has a one year low of $17.27 and a one year high of $26.07. The company has a quick ratio of 3.12, a current ratio of 3.95 and a debt-to-equity ratio of 0.16. The stock has a market cap of $45.28 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 10.52 and a beta of 0.25. The company’s 50-day moving average is $23.66 and its two-hundred day moving average is $20.63.

Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last issued its quarterly earnings results on Wednesday, February 16th. The gold and copper producer reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Barrick Gold had a net margin of 16.87% and a return on equity of 6.42%. The business had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter in the prior year, the firm earned $0.35 EPS. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. On average, sell-side analysts anticipate that Barrick Gold will post 1.15 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Kistler Tiffany Companies LLC lifted its stake in shares of Barrick Gold by 820.3% during the third quarter. Kistler Tiffany Companies LLC now owns 1,408 shares of the gold and copper producer’s stock valued at $25,000 after acquiring an additional 1,255 shares during the period. Herold Advisors Inc. acquired a new position in shares of Barrick Gold during the third quarter valued at $26,000. KRS Capital Management LLC acquired a new position in shares of Barrick Gold during the fourth quarter valued at $27,000. Glassman Wealth Services lifted its stake in shares of Barrick Gold by 99.3% during the first quarter. Glassman Wealth Services now owns 1,160 shares of the gold and copper producer’s stock valued at $28,000 after acquiring an additional 578 shares during the period. Finally, Samalin Investment Counsel LLC acquired a new position in Barrick Gold in the fourth quarter valued at about $32,000. 57.62% of the stock is currently owned by institutional investors and hedge funds.

About Barrick Gold (Get Rating)

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.

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