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

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective increased by stock 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 objective would indicate a potential upside of 31.41% from the company’s previous close.

ABX has been the subject of a number of other reports. National Bankshares dropped their price objective on shares of Barrick Gold from C$30.00 to C$28.00 and set a “sector perform” rating for the company in a research note on Friday. Veritas Investment Research upped their price objective on shares of Barrick Gold from C$20.70 to C$25.00 in a report on Friday, April 12th. Raymond James reduced their price objective on shares of Barrick Gold from C$28.00 to C$24.00 in a research report on Friday, February 16th. Stifel Nicolaus increased their target price on shares of Barrick Gold from C$25.00 to C$27.00 and gave the company a “buy” rating in a research report on Friday. Finally, Berenberg Bank raised their price objective on shares of Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$29.27.

Barrick Gold Stock Up 1.4 %

Shares of TSE ABX traded up C$0.32 on Tuesday, reaching C$22.83. 7,501,453 shares of the company’s stock traded hands, compared to its average volume of 3,510,757. The business’s 50 day simple moving average is C$21.64 and its two-hundred day simple moving average is C$22.05. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$28.19. 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 company has a market cap of C$40.18 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46.

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

Barrick Gold Company Profile

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.