Jefferies Group LLC Increases Barrick Gold Corp (ABX) Price Target to $24.00

Barrick Gold Corp (NYSE:ABX) (TSE:ABX) had its price target upped by research analysts at Jefferies Group LLC from $21.00 to $24.00 in a research report issued on Wednesday. The firm currently has a “buy” rating on the basic materials company’s stock. Jefferies Group LLC’s target price suggests a potential upside of 25.00% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Vetr downgraded shares of Barrick Gold Corp from a “buy” rating to a “hold” rating and set a $19.30 target price on the stock. in a research note on Wednesday, March 15th. Clarkson Capital downgraded shares of Barrick Gold Corp from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 15th. Berenberg Bank reissued a “sell” rating and issued a $15.20 target price on shares of Barrick Gold Corp in a research note on Thursday, February 16th. TheStreet raised shares of Barrick Gold Corp from a “c” rating to a “b-” rating in a research note on Thursday, February 23rd. Finally, Royal Bank of Canada raised shares of Barrick Gold Corp from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $19.00 to $23.00 in a research note on Thursday, March 16th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $22.86.

Analyst Recommendations for Barrick Gold Corp (NYSE:ABX)

Shares of Barrick Gold Corp (NYSE:ABX) opened at 19.20 on Wednesday. The stock’s 50 day moving average is $18.99 and its 200 day moving average is $17.37. The stock has a market cap of $22.38 billion, a PE ratio of 34.29 and a beta of -0.24. Barrick Gold Corp has a 52-week low of $13.81 and a 52-week high of $23.47.

Barrick Gold Corp (NYSE:ABX) last announced its earnings results on Wednesday, February 15th. The basic materials company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. Barrick Gold Corp had a negative net margin of 28.22% and a positive return on equity of 6.81%. The business had revenue of $2.32 million for the quarter, compared to the consensus estimate of $2.27 billion. Equities research analysts forecast that Barrick Gold Corp will post $0.83 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its position in Barrick Gold Corp by 0.9% in the third quarter. Acadian Asset Management LLC now owns 11,600 shares of the basic materials company’s stock worth $206,000 after buying an additional 100 shares during the period. Rathbone Brothers plc increased its position in Barrick Gold Corp by 72.5% in the third quarter. Rathbone Brothers plc now owns 29,529 shares of the basic materials company’s stock worth $522,000 after buying an additional 12,409 shares during the period. Commonwealth Equity Services Inc increased its position in Barrick Gold Corp by 16.7% in the third quarter. Commonwealth Equity Services Inc now owns 97,979 shares of the basic materials company’s stock worth $1,736,000 after buying an additional 14,050 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Barrick Gold Corp during the third quarter worth approximately $3,873,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Barrick Gold Corp by 40.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,618,520 shares of the basic materials company’s stock worth $99,518,000 after buying an additional 1,611,082 shares during the period. 58.61% of the stock is currently owned by institutional investors and hedge funds.

About Barrick Gold Corp

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.

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