Barrick Gold (TSE:ABX) Price Target Raised to C$36.00 at Eight Capital

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price hoisted by equities researchers at Eight Capital from C$32.00 to C$36.00 in a research note issued on Monday, BayStreet.CA reports. The firm currently has a “buy” rating on the basic materials company’s stock. Eight Capital’s target price would indicate a potential upside of 57.89% from the company’s previous close.

ABX has been the topic of several other reports. Raymond James decreased their price objective on shares of Barrick Gold from C$28.00 to C$24.00 in a research note on Friday, February 16th. Berenberg Bank increased their price target on shares of Barrick Gold from C$29.00 to C$31.00 in a research note on Monday, April 8th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. TD Securities reissued a “buy” rating and set a C$29.00 price target on shares of Barrick Gold in a research note on Tuesday, April 16th. Finally, National Bankshares decreased their price target on shares of Barrick Gold from C$30.00 to C$28.00 and set a “sector perform” rating on the stock in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$29.27.

Barrick Gold Stock Performance

TSE ABX opened at C$22.80 on Monday. 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 stock has a market cap of C$40.13 billion, a P/E ratio of 23.03, a PEG ratio of 1.94 and a beta of 0.46. Barrick Gold has a twelve month low of C$18.65 and a twelve month high of C$28.19. The company’s 50-day simple moving average is C$21.72 and its 200 day simple moving average is C$22.07.

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 for the quarter, topping the consensus estimate of C$0.28 by C$0.09. The firm had revenue of C$4.16 billion for the quarter, compared to analysts’ expectations 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, research analysts forecast that Barrick Gold will post 1.196793 earnings per share 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.