Barrick Gold (NYSE:GOLD) PT Raised to $36.00 at Raymond James

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price target lifted by stock analysts at Raymond James from $29.50 to $36.00 in a research report issued to clients and investors on Wednesday, Price Targets.com reports. The firm currently has an “outperform” rating on the gold and copper producer’s stock. Raymond James’ price target suggests a potential upside of 51.83% from the company’s previous close. Raymond James also issued estimates for Barrick Gold’s Q3 2021 earnings at $0.34 EPS, FY2021 earnings at $1.24 EPS and Q1 2022 earnings at $0.26 EPS.

Several other research firms have also commented on GOLD. TD Securities reduced their price target on shares of Barrick Gold from $32.00 to $30.00 and set an “action list buy” rating for the company in a report on Friday, February 26th. TheStreet upgraded shares of Barrick Gold from a “c” rating to a “b-” rating in a report on Thursday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of Barrick Gold from $30.00 to $25.00 in a report on Tuesday, April 27th. Fundamental Research boosted their price target on shares of Barrick Gold from $69.96 to $72.72 and gave the company a “buy” rating in a report on Monday, May 10th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Barrick Gold in a research report on Thursday, February 11th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $32.72.

Shares of GOLD opened at $23.71 on Wednesday. Barrick Gold has a 1-year low of $18.64 and a 1-year high of $31.22. The firm’s 50-day moving average is $22.88. The company has a market cap of $42.17 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 9.92 and a beta of 0.29. The company has a quick ratio of 3.01, a current ratio of 3.77 and a debt-to-equity ratio of 0.16.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Tuesday, May 4th. The gold and copper producer reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.02. Barrick Gold had a net margin of 19.19% and a return on equity of 7.18%. The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same quarter last year, the business posted $0.16 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts predict that Barrick Gold will post 1.18 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of GOLD. FWL Investment Management LLC acquired a new position in shares of Barrick Gold in the 4th quarter valued at $2,875,000. Comerica Bank raised its position in Barrick Gold by 3.9% during the fourth quarter. Comerica Bank now owns 96,412 shares of the gold and copper producer’s stock worth $2,263,000 after acquiring an additional 3,606 shares during the period. Baker Tilly Financial LLC acquired a new position in Barrick Gold during the fourth quarter worth $285,000. GSA Capital Partners LLP raised its position in Barrick Gold by 28.3% during the fourth quarter. GSA Capital Partners LLP now owns 9,200 shares of the gold and copper producer’s stock worth $210,000 after acquiring an additional 2,029 shares during the period. Finally, Clear Harbor Asset Management LLC raised its position in Barrick Gold by 53.8% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,292 shares of the gold and copper producer’s stock worth $212,000 after acquiring an additional 3,250 shares during the period. Hedge funds and other institutional investors own 57.18% 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.

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