Barrick Gold (NYSE:ABX) PT Set at $18.00 by BMO Capital Markets

Barrick Gold (NYSE:ABX) (TSE:ABX) received a $18.00 target price from stock analysts at BMO Capital Markets in a report issued on Tuesday, November 14th. The firm currently has a “hold” rating on the basic materials company’s stock. BMO Capital Markets’ price objective points to a potential upside of 27.93% from the company’s previous close.

Other research analysts have also issued research reports about the company. Berenberg Bank reaffirmed a “hold” rating on shares of Barrick Gold in a report on Tuesday, October 24th. Jefferies Group set a $20.00 target price on Barrick Gold and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Royal Bank Of Canada reissued a “buy” rating and set a $21.00 target price on shares of Barrick Gold in a research note on Tuesday, July 18th. Zacks Investment Research raised Barrick Gold from a “sell” rating to a “hold” rating in a research note on Friday, July 21st. Finally, BidaskClub raised Barrick Gold from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. Barrick Gold presently has an average rating of “Hold” and an average price target of $18.69.

Barrick Gold (NYSE:ABX) traded up $0.29 during trading hours on Tuesday, reaching $14.07. 16,541,709 shares of the company’s stock were exchanged, compared to its average volume of 8,636,622. The firm has a market cap of $16,402.44, a P/E ratio of 19.01, a PEG ratio of 9.54 and a beta of -0.42. Barrick Gold has a twelve month low of $13.46 and a twelve month high of $20.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.73 and a quick ratio of 1.56.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its position in shares of Barrick Gold by 116.4% in the second quarter. Advisors Asset Management Inc. now owns 6,588 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 3,543 shares in the last quarter. FNY Partners Fund LP purchased a new position in Barrick Gold in the second quarter valued at $159,000. Neuberger Berman Group LLC purchased a new position in shares of Barrick Gold during the second quarter worth about $161,000. ETRADE Capital Management LLC purchased a new position in shares of Barrick Gold during the second quarter worth about $180,000. Finally, MML Investors Services LLC grew its holdings in shares of Barrick Gold by 11.6% during the second quarter. MML Investors Services LLC now owns 11,644 shares of the basic materials company’s stock worth $185,000 after buying an additional 1,209 shares during the last quarter. 55.44% of the stock is owned by institutional investors.

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Barrick Gold 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 (NYSE:ABX)

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