Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target upped by research analysts at Canaccord Genuity from C$19.50 to C$21.00 in a research report issued on Friday, BayStreet.CA reports. Canaccord Genuity’s target price would indicate a potential downside of 6.67% from the company’s previous close.
Separately, BMO Capital Markets reissued a “hold” rating on shares of Russel Metals in a report on Thursday, July 4th.
Shares of TSE:ABX opened at C$22.50 on Friday. Barrick Gold has a 52 week low of C$12.54 and a 52 week high of C$22.84. The company has a debt-to-equity ratio of 31.73, a current ratio of 2.46 and a quick ratio of 1.28. The firm has a fifty day moving average price of C$19.83. The firm has a market cap of $38.32 billion and a P/E ratio of -18.46.
Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings data on Wednesday, May 8th. The basic materials company reported C$0.15 earnings per share for the quarter, topping the consensus estimate of C$0.13 by C$0.02. The firm had revenue of C$2.78 billion for the quarter, compared to the consensus estimate of C$2.89 billion. On average, equities research analysts predict that Barrick Gold will post 0.4900001 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. acquired a new stake in Barrick Gold in the first quarter valued at about $1,502,000. Loews Corp boosted its stake in Barrick Gold by 18.0% in the first quarter. Loews Corp now owns 965,505 shares of the basic materials company’s stock valued at $13,237,000 after buying an additional 147,500 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Barrick Gold in the first quarter valued at about $23,058,000. The Manufacturers Life Insurance Company boosted its stake in Barrick Gold by 115.6% in the first quarter. The Manufacturers Life Insurance Company now owns 8,105,056 shares of the basic materials company’s stock valued at $111,120,000 after buying an additional 4,346,176 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Barrick Gold by 18.1% in the first quarter. First Eagle Investment Management LLC now owns 47,941,237 shares of the basic materials company’s stock valued at $657,274,000 after buying an additional 7,356,630 shares in the last quarter.
Barrick Gold Company Profile
Barrick Gold Corporation explores for and develops mineral properties. The company primarily explores for gold, copper, and silver deposits. It holds a 50% interest in the Veladero, a gold mine located in Argentina; 50% interest in the Kalgoorlie gold mine located in Australia; 95% interest in the Porgera 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 copper mine located in Saudi Arabia.
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