Barrick Gold (NYSE:GOLD) Price Target Increased to $23.00 by Analysts at Jefferies Financial Group

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its target price upped by analysts at Jefferies Financial Group from $22.00 to $23.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the gold and copper producer’s stock. Jefferies Financial Group’s target price indicates a potential upside of 26.03% from the stock’s previous close.

GOLD has been the topic of several other reports. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. CIBC upped their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday. Finally, BMO Capital Markets reduced their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

Barrick Gold Price Performance

Shares of NYSE:GOLD traded up $0.12 on Friday, reaching $18.25. 3,050,772 shares of the company were exchanged, compared to its average volume of 21,584,412. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. Barrick Gold has a 1-year low of $13.76 and a 1-year high of $18.95. The firm has a market cap of $31.99 billion, a price-to-earnings ratio of 22.26, a price-to-earnings-growth ratio of 0.50 and a beta of 0.51. The company has a 50-day moving average of $16.95 and a 200-day moving average of $16.47.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the company posted $0.14 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts forecast that Barrick Gold will post 1.07 earnings per share for the current fiscal year.

Institutional Trading of Barrick Gold

A number of institutional investors and hedge funds have recently bought and sold shares of GOLD. Clean Yield Group acquired a new stake in Barrick Gold during the 1st quarter worth approximately $25,000. Principal Securities Inc. acquired a new stake in Barrick Gold during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC increased its position in Barrick Gold by 175.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after purchasing an additional 1,143 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in Barrick Gold during the 4th quarter worth approximately $35,000. Finally, LRI Investments LLC acquired a new stake in Barrick Gold during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

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.