Barrick Gold Corp (NYSE:GOLD) Receives $23.23 Consensus Price Target from Brokerages

Barrick Gold Corp (NYSE:GOLDGet Free Report) (TSE:ABX) has earned an average rating of “Moderate Buy” from the sixteen analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $23.15.

Several equities analysts have recently issued reports on the stock. CIBC reduced their price target on shares of Barrick Gold from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Wednesday. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Wednesday, January 3rd. Raymond James cut their price target on Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday. TD Securities decreased their price objective on Barrick Gold from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, November 6th. Finally, Sanford C. Bernstein downgraded Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th.

Check Out Our Latest Stock Analysis on GOLD

Barrick Gold Trading Down 1.0 %

Shares of NYSE GOLD opened at $14.67 on Friday. Barrick Gold has a 12-month low of $13.82 and a 12-month high of $20.75. The company has a market cap of $25.75 billion, a price-to-earnings ratio of 489.00, a price-to-earnings-growth ratio of 0.98 and a beta of 0.58. The company has a current ratio of 3.07, a quick ratio of 2.28 and a debt-to-equity ratio of 0.15. The stock’s 50 day simple moving average is $16.79 and its 200 day simple moving average is $16.29.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GOLD. Principal Securities Inc. bought a new stake in shares of Barrick Gold during the 4th quarter worth $26,000. Fairfield Bush & CO. acquired a new position in shares of Barrick Gold in the second quarter worth about $29,000. RFP Financial Group LLC purchased a new position in Barrick Gold during the 2nd quarter worth approximately $30,000. EverSource Wealth Advisors LLC raised its position in Barrick Gold by 175.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after buying an additional 1,143 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Barrick Gold in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 58.20% of the company’s stock.

Barrick Gold Company Profile

(Get Free Report

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.

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