Barrick Gold Corporation (NYSE:ABX) PT Set at $20.00 by Jefferies Group LLC

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) received a $20.00 price objective from analysts at Jefferies Group LLC in a research report issued to clients and investors on Thursday, October 19th. The brokerage presently has a “buy” rating on the basic materials company’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 36.24% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. BidaskClub upgraded Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. BMO Capital Markets set a $18.00 price target on Barrick Gold Corporation and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded Barrick Gold Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 21st. Berenberg Bank upgraded Barrick Gold Corporation from a “sell” rating to a “hold” rating and upped their price target for the stock from $16.13 to $16.40 in a research note on Thursday, June 29th. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Barrick Gold Corporation in a research note on Wednesday, September 6th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Barrick Gold Corporation currently has an average rating of “Hold” and an average target price of $19.80.



Shares of Barrick Gold Corporation (NYSE:ABX) traded up 1.17% during mid-day trading on Thursday, reaching $14.68. The company’s stock had a trading volume of 13,197,295 shares. Barrick Gold Corporation has a 52-week low of $13.81 and a 52-week high of $20.78. The company has a market cap of $17.12 billion, a PE ratio of 7.27 and a beta of -0.34. The company has a 50-day moving average price of $16.62 and a 200 day moving average price of $16.75.

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last issued its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Barrick Gold Corporation had a return on equity of 7.84% and a net margin of 25.72%. The company’s revenue was down 15.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. Equities analysts expect that Barrick Gold Corporation will post $0.75 earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. acquired a new position in Barrick Gold Corporation in the 3rd quarter worth $1,374,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Barrick Gold Corporation by 22.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 51,342 shares of the basic materials company’s stock valued at $826,000 after purchasing an additional 9,264 shares in the last quarter. Highstreet Asset Management Inc. raised its stake in shares of Barrick Gold Corporation by 237.7% in the 3rd quarter. Highstreet Asset Management Inc. now owns 125,404 shares of the basic materials company’s stock valued at $2,018,000 after purchasing an additional 88,273 shares in the last quarter. Aperio Group LLC raised its stake in shares of Barrick Gold Corporation by 12.8% in the 3rd quarter. Aperio Group LLC now owns 394,976 shares of the basic materials company’s stock valued at $6,355,000 after purchasing an additional 44,765 shares in the last quarter. Finally, Saratoga Research & Investment Management acquired a new stake in shares of Barrick Gold Corporation in the 3rd quarter valued at about $229,000. 55.86% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Corporation Company Profile

Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.

Analyst Recommendations for Barrick Gold Corporation (NYSE:ABX)

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