Barrick Gold (NYSE:GOLD) Given a $31.00 Price Target at Raymond James

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) received a $31.00 price target from equities research analysts at Raymond James in a report released on Thursday, BayStreet.CA reports. The firm presently has an “outperform” rating on the gold and copper producer’s stock. Raymond James’ price target would indicate a potential upside of 38.27% from the company’s previous close.

Several other research firms have also issued reports on GOLD. National Bank Financial raised their price target on Barrick Gold from C$29.00 to C$38.00 in a research report on Wednesday, April 20th. Jefferies Financial Group raised their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, March 9th. Sanford C. Bernstein lowered Barrick Gold from an “outperform” rating to a “market perform” rating in a research report on Monday, April 25th. Fundamental Research increased their price objective on Barrick Gold from $26.00 to $26.45 and gave the stock a “buy” rating in a report on Tuesday, March 1st. Finally, TD Securities cut Barrick Gold from an “action list buy” rating to a “buy” rating and set a $31.00 target price for the company. in a research note on Wednesday, April 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $29.95.

Shares of Barrick Gold stock opened at $22.42 on Thursday. The business’s 50-day moving average price is $24.11 and its 200-day moving average price is $21.08. The company has a current ratio of 3.95, a quick ratio of 3.12 and a debt-to-equity ratio of 0.16. Barrick Gold has a 12 month low of $17.27 and a 12 month high of $26.07. The firm has a market capitalization of $39.89 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 10.52 and a beta of 0.25.

Barrick Gold (NYSE:GOLDGet Rating) (TSE:ABX) last posted its quarterly earnings results on Wednesday, May 4th. The gold and copper producer reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Barrick Gold had a return on equity of 6.42% and a net margin of 16.87%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company earned $0.29 EPS. Barrick Gold’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, analysts predict that Barrick Gold will post 1.15 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Hazlett Burt & Watson Inc. bought a new stake in Barrick Gold during the first quarter worth approximately $26,000. Glassman Wealth Services grew 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 buying an additional 578 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Barrick Gold by 91.6% during the first quarter. JFS Wealth Advisors LLC now owns 1,226 shares of the gold and copper producer’s stock valued at $30,000 after buying an additional 586 shares during the last quarter. Kistler Tiffany Companies LLC grew 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 buying an additional 1,255 shares during the last quarter. Finally, KRS Capital Management LLC bought a new position in shares of Barrick Gold during the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 57.62% of the company’s stock.

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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Analyst Recommendations for Barrick Gold (NYSE:GOLD)

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