Barrick Gold (ABX) PT Raised to $17.50

Barrick Gold (NYSE:ABX) (TSE:ABX) had its price objective increased by equities research analysts at TD Securities from $17.00 to $17.50 in a research note issued to investors on Friday. The firm currently has a “hold” rating on the basic materials company’s stock. TD Securities’ target price points to a potential upside of 15.74% from the stock’s current price.

Other analysts also recently issued research reports about the company. Berenberg Bank reissued a “hold” rating on shares of Barrick Gold in a research note on Tuesday, October 24th. Jefferies Group restated a “buy” rating and issued a $20.00 price objective on shares of Barrick Gold in a report on Thursday, September 21st. Royal Bank of Canada set a $21.00 price objective on Barrick Gold and gave the company a “buy” rating in a report on Monday, October 30th. Desjardins restated a “hold” rating on shares of Barrick Gold in a report on Monday, December 11th. Finally, BMO Capital Markets set a $16.00 price objective on Barrick Gold and gave the company a “hold” rating in a report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.48.

Shares of Barrick Gold (NYSE ABX) opened at $15.12 on Friday. Barrick Gold has a 12 month low of $13.28 and a 12 month high of $20.78. The stock has a market capitalization of $17,680.00, a PE ratio of 8.09, a price-to-earnings-growth ratio of 8.55 and a beta of -0.42. The company has a quick ratio of 1.56, a current ratio of 2.73 and a debt-to-equity ratio of 0.55.

Barrick Gold (NYSE:ABX) (TSE:ABX) last released its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01). Barrick Gold had a net margin of 25.72% and a return on equity of 7.73%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the business earned $0.24 EPS. The business’s revenue for the quarter was down 15.8% compared to the same quarter last year. equities research analysts forecast that Barrick Gold will post 0.76 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of ABX. Fruth Investment Management bought a new position in Barrick Gold during the fourth quarter worth about $150,000. Neuberger Berman Group LLC bought a new position in Barrick Gold during the second quarter worth about $161,000. ETRADE Capital Management LLC bought a new position in Barrick Gold during the second quarter worth about $180,000. MML Investors Services LLC grew its holdings in Barrick Gold by 11.6% during the second quarter. MML Investors Services LLC now owns 11,644 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 1,209 shares during the period. Finally, Boothbay Fund Management LLC bought a new position in Barrick Gold during the third quarter worth about $187,000. Institutional investors and hedge funds own 55.65% 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.

Analyst Recommendations for Barrick Gold (NYSE:ABX)

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