Barrick Gold Corporation (ABX) Stock Rating Upgraded by Berenberg Bank

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) was upgraded by investment analysts at Berenberg Bank from a “sell” rating to a “hold” rating in a research report issued on Thursday, June 29th, Marketbeat reports. The firm presently has a $16.40 target price on the basic materials company’s stock, up from their previous target price of $16.13. Berenberg Bank’s price target would suggest a potential downside of 2.79% from the company’s previous close.

Several other analysts also recently commented on the company. TD Securities reiterated a “hold” rating on shares of Barrick Gold Corporation in a research note on Tuesday, June 27th. Deutsche Bank AG reiterated a “buy” rating and set a $21.00 target price (down from $22.00) on shares of Barrick Gold Corporation in a research note on Sunday, June 25th. BidaskClub upgraded Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Jefferies Group LLC reiterated a “buy” rating and set a $24.00 target price on shares of Barrick Gold Corporation in a research note on Wednesday, June 21st. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating and set a $19.00 target price on shares of Barrick Gold Corporation in a research note on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $22.16.

Shares of Barrick Gold Corporation (NYSE:ABX) traded up 2.06% during mid-day trading on Thursday, reaching $16.87. The company had a trading volume of 12,819,109 shares. The company has a market capitalization of $19.67 billion, a price-to-earnings ratio of 8.35 and a beta of -0.25. The company has a 50 day moving average price of $16.00 and a 200 day moving average price of $17.57. Barrick Gold Corporation has a one year low of $13.81 and a one year high of $22.94.

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last issued its earnings results on Wednesday, July 26th. The basic materials company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. Barrick Gold Corporation had a return on equity of 9.18% and a net margin of 26.95%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $0.14 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. On average, analysts anticipate that Barrick Gold Corporation will post $0.72 EPS for the current year.

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Large investors have recently bought and sold shares of the stock. Highland Capital Management LLC boosted its stake in Barrick Gold Corporation by 0.3% in the second quarter. Highland Capital Management LLC now owns 47,758 shares of the basic materials company’s stock worth $760,000 after buying an additional 130 shares in the last quarter. M&T Bank Corp boosted its stake in Barrick Gold Corporation by 0.4% in the first quarter. M&T Bank Corp now owns 44,573 shares of the basic materials company’s stock worth $848,000 after buying an additional 158 shares in the last quarter. Usca Ria LLC boosted its stake in Barrick Gold Corporation by 0.9% in the first quarter. Usca Ria LLC now owns 24,389 shares of the basic materials company’s stock worth $463,000 after buying an additional 228 shares in the last quarter. Meridian Investment Counsel Inc. boosted its stake in Barrick Gold Corporation by 0.5% in the first quarter. Meridian Investment Counsel Inc. now owns 64,803 shares of the basic materials company’s stock worth $1,231,000 after buying an additional 300 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Barrick Gold Corporation by 0.7% in the first quarter. PNC Financial Services Group Inc. now owns 47,015 shares of the basic materials company’s stock worth $893,000 after buying an additional 328 shares in the last quarter. 57.69% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Corporation 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 Corporation (NYSE:ABX)

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