Barrick Gold (TSE:ABX) Price Target Raised to C$30.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective upped by investment analysts at Canaccord Genuity Group from C$27.00 to C$30.00 in a note issued to investors on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s price target suggests a potential upside of 31.41% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Berenberg Bank upped their price target on Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. TD Securities reiterated a “buy” rating and set a C$29.00 price objective on shares of Barrick Gold in a research note on Tuesday, April 16th. Sanford C. Bernstein upped their price objective on Barrick Gold from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, Raymond James dropped their price target on Barrick Gold from C$28.00 to C$24.00 in a research note on Friday, February 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$29.27.

Barrick Gold Stock Up 1.4 %

Shares of ABX traded up C$0.32 on Tuesday, hitting C$22.83. The company’s stock had a trading volume of 7,501,453 shares, compared to its average volume of 3,510,757. The company has a quick ratio of 2.62, a current ratio of 3.16 and a debt-to-equity ratio of 16.32. The firm’s fifty day moving average price is C$21.64 and its 200-day moving average price is C$22.05. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$28.19. The firm has a market capitalization of C$40.18 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 1.94 and a beta of 0.46.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.28 by C$0.09. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%. The business had revenue of C$4.16 billion during the quarter, compared to analyst estimates of C$4.28 billion. On average, equities research analysts expect that Barrick Gold will post 1.196793 EPS for the current year.

About Barrick Gold

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.