Barrick Gold Corp (NYSE:GOLD) Receives $22.20 Average Price Target from Brokerages

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have earned an average rating of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $22.20.

A number of brokerages recently weighed in on GOLD. BMO Capital Markets cut their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Jefferies Financial Group raised their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, CIBC lifted their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th.

Barrick Gold Price Performance

Shares of NYSE:GOLD opened at $18.24 on Friday. The firm has a market cap of $31.97 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 0.48 and a beta of 0.51. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $19.45. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $17.31 and a 200 day simple moving average of $16.53.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 earnings per share. As a group, sell-side analysts predict that Barrick Gold will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Barrick Gold

Several institutional investors have recently bought and sold shares of GOLD. Wellington Management Group LLP raised its stake in shares of Barrick Gold by 58.4% in the fourth quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock worth $1,821,963,000 after acquiring an additional 37,128,653 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Barrick Gold by 31.6% in the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after purchasing an additional 14,138,639 shares in the last quarter. Van ECK Associates Corp raised its position in Barrick Gold by 9.7% in the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $1,464,070,000 after purchasing an additional 7,150,142 shares during the last quarter. Capital World Investors lifted its holdings in Barrick Gold by 16.4% during the 4th quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock worth $821,790,000 after buying an additional 6,417,244 shares in the last quarter. Finally, Ruffer LLP boosted its position in Barrick Gold by 198.3% in 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 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.