Barrick Gold (TSE:ABX) Price Target Cut to C$28.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price dropped by research analysts at National Bankshares from C$30.00 to C$28.00 in a report released on Friday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. National Bankshares’ price target would suggest a potential upside of 19.30% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. TD Securities restated a “buy” rating and set a C$29.00 price objective on shares of Barrick Gold in a research report on Tuesday. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Raymond James lowered their price target on shares of Barrick Gold from C$28.00 to C$24.00 in a report on Friday, February 16th. Veritas Investment Research boosted their price target on shares of Barrick Gold from C$20.70 to C$25.00 in a report on Friday, April 12th. Finally, Stifel Nicolaus lowered their price target on shares of Barrick Gold from C$30.00 to C$25.00 and set a “buy” rating for the company in a report on Friday, January 26th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$28.60.

Barrick Gold Trading Up 0.4 %

Barrick Gold stock traded up C$0.09 during midday trading on Friday, hitting C$23.47. 1,571,054 shares of the stock were exchanged, compared to its average volume of 3,441,477. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$28.19. The stock has a market capitalization of C$41.31 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.94 and a beta of 0.46. The stock’s 50-day simple moving average is C$21.51 and its 200 day simple moving average is C$21.96. The company has a current ratio of 3.16, a quick ratio of 2.62 and a debt-to-equity ratio of 16.32.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.28 by C$0.09. Barrick Gold had a net margin of 11.16% and a return on equity of 6.17%. The firm had revenue of C$4.16 billion during the quarter, compared to analysts’ expectations of C$4.28 billion. On average, equities analysts anticipate 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.