Raymond James Cuts Barrick Gold (NYSE:GOLD) Price Target to $24.00

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its target price cut by Raymond James from $25.00 to $24.00 in a report published on Friday morning,BayStreet.CA reports. They currently have an outperform rating on the gold and copper producer’s stock. Raymond James also issued estimates for Barrick Gold’s Q4 2025 earnings at $0.36 EPS and FY2025 earnings at $1.34 EPS.

Several other analysts have also recently commented on GOLD. Scotiabank cut Barrick Gold from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $23.00 to $19.00 in a report on Thursday, January 30th. Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. CIBC lowered shares of Barrick Gold from a “sector outperform” rating to a “neutral” rating in a research report on Monday, November 25th. Bank of America cut shares of Barrick Gold from a “buy” rating to a “neutral” rating and decreased their price target for the company from $21.00 to $18.00 in a research note on Monday, January 27th. Finally, Berenberg Bank upped their price objective on Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.83.

Barrick Gold Stock Down 0.8 %

Shares of GOLD opened at $17.04 on Friday. The company has a market capitalization of $29.42 billion, a P/E ratio of 18.32, a PEG ratio of 0.39 and a beta of 0.55. Barrick Gold has a one year low of $13.76 and a one year high of $21.35. The business’s 50 day simple moving average is $16.19 and its 200-day simple moving average is $18.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.

Hedge Funds Weigh In On Barrick Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in Barrick Gold by 24.8% during the 2nd quarter. AQR Capital Management LLC now owns 43,901 shares of the gold and copper producer’s stock worth $732,000 after acquiring an additional 8,712 shares during the last quarter. Truist Financial Corp boosted its position in shares of Barrick Gold by 27.8% during the second quarter. Truist Financial Corp now owns 95,794 shares of the gold and copper producer’s stock worth $1,598,000 after purchasing an additional 20,842 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Barrick Gold in the 2nd quarter valued at $934,000. Atomi Financial Group Inc. bought a new stake in shares of Barrick Gold in the 3rd quarter valued at $363,000. Finally, CWM LLC raised its stake in Barrick Gold by 6.9% during the 3rd quarter. CWM LLC now owns 15,826 shares of the gold and copper producer’s stock worth $315,000 after buying an additional 1,021 shares during the period. Institutional investors 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.