Eight Capital Raises Barrick Gold (TSE:ABX) Price Target to C$28.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective increased by Eight Capital from C$20.00 to C$28.00 in a research note issued to investors on Thursday morning, BayStreet.CA reports.

ABX has been the topic of a number of other research reports. BMO Capital Markets restated an outperform rating and issued a C$20.00 target price on shares of Barrick Gold in a research note on Thursday, July 4th. Canaccord Genuity upped their target price on shares of Barrick Gold from C$19.50 to C$21.00 in a research note on Friday, July 19th.

Shares of Barrick Gold stock opened at C$23.96 on Thursday. The firm has a market cap of $41.98 billion and a price-to-earnings ratio of -19.66. The firm has a 50-day moving average of C$21.74. The company has a current ratio of 2.46, a quick ratio of 1.28 and a debt-to-equity ratio of 31.73. Barrick Gold has a 1 year low of C$12.54 and a 1 year high of C$24.56.

Several institutional investors have recently modified their holdings of ABX. BlackRock Inc. raised its stake in Barrick Gold by 1,166.6% during the first quarter. BlackRock Inc. now owns 68,699,968 shares of the basic materials company’s stock worth $941,876,000 after acquiring an additional 63,276,124 shares during the period. First Eagle Investment Management LLC raised its stake in Barrick Gold by 18.1% during the first quarter. First Eagle Investment Management LLC now owns 47,941,237 shares of the basic materials company’s stock worth $657,274,000 after acquiring an additional 7,356,630 shares during the period. FIL Ltd raised its stake in Barrick Gold by 62.6% during the first quarter. FIL Ltd now owns 33,176,656 shares of the basic materials company’s stock worth $454,822,000 after acquiring an additional 12,772,192 shares during the period. Majedie Asset Management Ltd raised its stake in Barrick Gold by 0.7% during the first quarter. Majedie Asset Management Ltd now owns 19,959,841 shares of the basic materials company’s stock worth $273,874,000 after acquiring an additional 144,130 shares during the period. Finally, Ruffer LLP raised its stake in Barrick Gold by 27.5% during the first quarter. Ruffer LLP now owns 19,314,304 shares of the basic materials company’s stock worth $264,891,000 after acquiring an additional 4,169,333 shares during the period.

About Barrick Gold

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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