JPMorgan Chase & Co. Raises Barrick Gold (ABX) Price Target to C$18.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target upped by equities research analysts at JPMorgan Chase & Co. from C$17.00 to C$18.00 in a report issued on Wednesday. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 9.96% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Canaccord Genuity increased their price target on shares of Barrick Gold from C$17.00 to C$17.50 in a report on Thursday, November 8th. Cormark reduced their target price on shares of Barrick Gold from C$17.00 to C$16.50 in a report on Sunday, October 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Barrick Gold in a report on Wednesday, September 26th.

Shares of TSE:ABX opened at C$16.37 on Wednesday. Barrick Gold has a one year low of C$12.54 and a one year high of C$19.49. The company has a quick ratio of 1.22, a current ratio of 2.65 and a debt-to-equity ratio of 53.76.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings results on Wednesday, October 24th. The company reported C$0.10 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.08 by C$0.02. The company had revenue of C$2.40 billion during the quarter, compared to the consensus estimate of C$2.35 billion. As a group, research analysts predict that Barrick Gold will post 0.490000036029414 earnings per share for the current fiscal year.

In other Barrick Gold news, insider Gregory Alan Pool Walker bought 11,656 shares of Barrick Gold stock in a transaction that occurred on Monday, December 3rd. The shares were bought at an average price of C$17.02 per share, with a total value of C$198,385.12.

About Barrick Gold

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.

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