Barrick Gold (NYSE:GOLD) Given New $26.00 Price Target at TD Securities

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price objective cut by investment analysts at TD Securities from $27.00 to $26.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the gold and copper producer’s stock. TD Securities’ target price indicates a potential upside of 42.86% from the stock’s current price.

A number of other analysts also recently weighed in on GOLD. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and cut their target price for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Raymond James decreased their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Royal Bank of Canada upped their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank decreased their target price on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research report on Friday. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.90.

Barrick Gold Trading Down 1.5 %

Shares of GOLD traded down $0.28 on Friday, reaching $18.20. 18,870,494 shares of the company’s stock were exchanged, compared to its average volume of 21,197,031. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $31.81 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 0.45 and a beta of 0.56. The business has a 50 day moving average price of $20.02 and a two-hundred day moving average price of $18.44. Barrick Gold has a 12 month low of $13.76 and a 12 month high of $21.35.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the firm posted $0.19 EPS. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. Research analysts anticipate that Barrick Gold will post 1.29 earnings per share for the current year.

Institutional Trading of Barrick Gold

A number of hedge funds have recently made changes to their positions in the stock. DCF Advisers LLC lifted its stake in shares of Barrick Gold by 48.3% in the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock worth $1,793,000 after buying an additional 35,000 shares in the last quarter. Evexia Wealth LLC purchased a new stake in shares of Barrick Gold during the third quarter worth about $2,382,000. 1832 Asset Management L.P. lifted its stake in Barrick Gold by 3.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,089,855 shares of the gold and copper producer’s stock worth $18,135,000 after purchasing an additional 38,100 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Barrick Gold during the 2nd quarter valued at about $934,000. Finally, Hara Capital LLC purchased a new position in shares of Barrick Gold during the third quarter valued at about $1,690,000. 62.85% of the stock is owned by institutional investors.

About Barrick Gold

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.