Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) received a $18.00 target price from BMO Capital Markets in a report issued on Tuesday. The brokerage presently has a “hold” rating on the basic materials company’s stock. BMO Capital Markets’ target price suggests a potential upside of 28.48% from the stock’s previous close.
ABX has been the subject of several other research reports. Royal Bank Of Canada restated a “buy” rating and issued a $21.00 target price on shares of Barrick Gold Corporation in a report on Tuesday, July 18th. Zacks Investment Research raised shares of Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. BidaskClub raised shares of Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Jefferies Group LLC set a $20.00 price objective on shares of Barrick Gold Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Barrick Gold Corporation in a research report on Wednesday, September 6th. Thirteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $19.13.
Shares of Barrick Gold Corporation (NYSE:ABX) opened at $14.01 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.73 and a quick ratio of 1.56. The stock has a market cap of $16,350.00, a price-to-earnings ratio of 18.85, a PEG ratio of 9.30 and a beta of -0.39. Barrick Gold Corporation has a 52 week low of $13.80 and a 52 week high of $20.78.
Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last posted its earnings results on Wednesday, October 25th. The basic materials company reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01). The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Barrick Gold Corporation had a net margin of 25.72% and a return on equity of 7.73%. The business’s revenue was down 15.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. research analysts anticipate that Barrick Gold Corporation will post 0.75 EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its holdings in Barrick Gold Corporation by 44.6% in the third quarter. Point72 Asset Management L.P. now owns 637,800 shares of the basic materials company’s stock valued at $10,262,000 after acquiring an additional 196,700 shares during the period. Laurel Wealth Advisors Inc. acquired a new stake in Barrick Gold Corporation in the third quarter valued at $314,000. Boothbay Fund Management LLC acquired a new stake in Barrick Gold Corporation in the third quarter valued at $187,000. Old West Investment Management LLC lifted its holdings in Barrick Gold Corporation by 1.8% in the third quarter. Old West Investment Management LLC now owns 777,273 shares of the basic materials company’s stock valued at $12,506,000 after acquiring an additional 13,467 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in Barrick Gold Corporation in the third quarter valued at $2,028,000. 56.22% of the stock is owned by institutional investors.
About Barrick Gold Corporation
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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