Barrick Gold (NYSE:GOLD) Price Target Cut to $24.00

Barrick Gold (NYSE:GOLDFree Report) (TSE:ABX) had its price objective decreased by Raymond James from $25.00 to $24.00 in a research report released on Friday, BayStreet.CA reports. Raymond James currently has an outperform rating on the gold and copper producer’s stock.

Other equities analysts have also issued research reports about the stock. Citigroup cut their target price on shares of Barrick Gold from $20.00 to $18.00 and set a neutral rating for the company in a research report on Tuesday, November 28th. National Bank Financial reiterated a sector perform overweight rating on shares of Barrick Gold in a research report on Wednesday, January 3rd. StockNews.com lowered shares of Barrick Gold from a buy rating to a hold rating in a research report on Tuesday, January 23rd. CIBC cut their price objective on shares of Barrick Gold from $27.00 to $23.00 and set an outperform rating for the company in a research report on Wednesday, February 7th. Finally, Sanford C. Bernstein lowered shares of Barrick Gold from an outperform rating to a market perform rating in a research report on Monday, January 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $21.98.

Get Our Latest Stock Analysis on GOLD

Barrick Gold Stock Performance

NYSE GOLD opened at $14.72 on Friday. Barrick Gold has a 52-week low of $13.82 and a 52-week high of $20.75. The company has a 50-day simple moving average of $16.73 and a 200 day simple moving average of $16.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.28 and a current ratio of 3.07. The company has a market capitalization of $25.84 billion, a PE ratio of 490.67, a price-to-earnings-growth ratio of 0.97 and a beta of 0.58.

Institutional Trading of Barrick Gold

Several large investors have recently added to or reduced their stakes in GOLD. Wellington Management Group LLP boosted its holdings in Barrick Gold by 35.0% in the third quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock valued at $925,121,000 after acquiring an additional 16,485,756 shares in the last quarter. Snider Financial Group bought a new stake in shares of Barrick Gold during the 1st quarter valued at $185,000. Van ECK Associates Corp boosted its holdings in shares of Barrick Gold by 9.7% during the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock valued at $1,464,070,000 after buying an additional 7,150,142 shares in the last quarter. Ruffer LLP boosted its holdings in shares of Barrick Gold by 198.3% during the 4th quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock valued at $173,727,000 after buying an additional 6,385,566 shares in the last quarter. Finally, Bank of Nova Scotia boosted its holdings in shares of Barrick Gold by 60.1% during the 2nd quarter. Bank of Nova Scotia now owns 15,183,895 shares of the gold and copper producer’s stock valued at $256,868,000 after buying an additional 5,697,106 shares in the last quarter. Institutional investors own 58.20% of the company’s stock.

Barrick Gold Company Profile

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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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Analyst Recommendations for Barrick Gold (NYSE:GOLD)

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