Barrick Gold (NYSE:GOLD) PT Raised to $23.00

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price objective upped by stock analysts at UBS Group from $22.00 to $23.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the gold and copper producer’s stock. UBS Group’s target price would suggest a potential upside of 15.40% from the company’s previous close.

GOLD has been the topic of several other reports. Scotiabank increased their price objective on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. CIBC increased their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Jefferies Financial Group boosted their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, August 29th. Finally, Royal Bank of Canada lifted their price target on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Barrick Gold Trading Down 1.4 %

NYSE GOLD opened at $19.93 on Tuesday. Barrick Gold has a 12 month low of $13.76 and a 12 month high of $21.21. 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 50 day moving average of $19.92 and a 200-day moving average of $18.18. The company has a market cap of $34.93 billion, a PE ratio of 24.30, a PEG ratio of 0.47 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. Barrick Gold’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS. On average, equities research analysts anticipate that Barrick Gold will post 1.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Barrick Gold

Several hedge funds and other institutional investors have recently modified their holdings of GOLD. Ritholtz Wealth Management grew its holdings in shares of Barrick Gold by 2.8% during the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after purchasing an additional 502 shares during the last quarter. Silverlake Wealth Management LLC increased its holdings in shares of Barrick Gold by 1.3% during the third quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after buying an additional 628 shares in the last quarter. Edge Wealth Management LLC lifted its stake in shares of Barrick Gold by 6.3% in the 1st quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after acquiring an additional 725 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Barrick Gold by 1.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 38,999 shares of the gold and copper producer’s stock valued at $650,000 after acquiring an additional 731 shares in the last quarter. Finally, Greenleaf Trust grew its position in Barrick Gold by 3.5% during the 1st quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock worth $418,000 after acquiring an additional 838 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Company Profile

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.