TD Securities Lowers Barrick Gold Corporation (NYSE:ABX) Price Target to $17.00

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) had its price target cut by stock analysts at TD Securities from $20.00 to $17.00 in a research report issued to clients and investors on Monday, November 6th. The firm presently has a “hold” rating on the basic materials company’s stock. TD Securities’ price objective points to a potential upside of 20.57% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Credit Suisse Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Barrick Gold in a report on Sunday, September 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of Barrick Gold in a report on Thursday, September 21st. Citigroup Inc. restated a “buy” rating on shares of Barrick Gold in a report on Wednesday, September 6th. Royal Bank Of Canada set a $21.00 price target on shares of Barrick Gold and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Finally, TheStreet lowered shares of Barrick Gold from a “b-” rating to a “c” rating in a report on Thursday, October 26th. Thirteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $19.13.

Barrick Gold (NYSE:ABX) traded down $0.04 on Monday, hitting $14.10. 8,630,000 shares of the stock were exchanged, compared to its average volume of 9,850,000. Barrick Gold has a one year low of $13.81 and a one year high of $20.78. The company has a current ratio of 2.73, a quick ratio of 1.56 and a debt-to-equity ratio of 0.55. The firm has a market cap of $16,520.00, a P/E ratio of 19.11, a P/E/G ratio of 9.59 and a beta of -0.39.

Barrick Gold (NYSE:ABX) (TSE:ABX) last posted its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $2.02 billion. Barrick Gold had a net margin of 25.72% and a return on equity of 7.73%. The company’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 earnings per share. equities analysts predict that Barrick Gold will post 0.74 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of ABX. Flossbach Von Storch AG grew its position in Barrick Gold by 104.8% in the 2nd quarter. Flossbach Von Storch AG now owns 26,529,688 shares of the basic materials company’s stock valued at $422,088,000 after purchasing an additional 13,576,086 shares during the period. Franklin Resources Inc. grew its position in Barrick Gold by 41.7% in the 2nd quarter. Franklin Resources Inc. now owns 34,981,711 shares of the basic materials company’s stock valued at $556,558,000 after purchasing an additional 10,291,973 shares during the period. Marathon Asset Management LLP acquired a new stake in Barrick Gold in the 3rd quarter valued at $43,138,000. Majedie Asset Management Ltd grew its position in Barrick Gold by 7.8% in the 2nd quarter. Majedie Asset Management Ltd now owns 18,856,140 shares of the basic materials company’s stock valued at $300,001,000 after purchasing an additional 1,360,514 shares during the period. Finally, Investec Asset Management LTD grew its position in Barrick Gold by 87.6% in the 3rd quarter. Investec Asset Management LTD now owns 2,887,282 shares of the basic materials company’s stock valued at $46,441,000 after purchasing an additional 1,348,096 shares during the period. 55.87% of the stock is owned by institutional investors and hedge funds.

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About Barrick Gold

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 (NYSE:ABX)

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