Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX had its target price decreased by equities research analysts at Citigroup from $23.00 to $17.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a "neutral" rating on the gold and copper producer's stock. Citigroup's target price indicates a potential upside of 9.96% from the company's current price.
Several other equities research analysts have also weighed in on the company. Argus upgraded Barrick Gold from a "hold" rating to a "buy" rating and set a $24.00 price objective on the stock in a research note on Thursday, August 29th. CIBC cut Barrick Gold from a "sector outperform" rating to a "neutral" rating in a research report on Monday, November 25th. Scotiabank cut their price objective on Barrick Gold from $24.00 to $23.00 and set a "sector outperform" rating for the company in a report on Monday, November 25th. Berenberg Bank upped their target price on shares of Barrick Gold from $37.00 to $38.00 in a report on Tuesday, November 26th. Finally, Royal Bank of Canada increased their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Barrick Gold has a consensus rating of "Moderate Buy" and a consensus target price of $24.82.
Check Out Our Latest Stock Analysis on Barrick Gold
Barrick Gold Price Performance
Shares of Barrick Gold stock traded up $0.23 during trading on Friday, hitting $15.46. 27,200,939 shares of the company's stock traded hands, compared to its average volume of 21,441,059. The company has a market cap of $26.92 billion, a PE ratio of 16.62, a PEG ratio of 0.47 and a beta of 0.53. The firm's fifty day moving average price is $18.17 and its 200 day moving average price is $18.46. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $21.35. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of GOLD. Exchange Traded Concepts LLC boosted its stake in Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer's stock valued at $28,000 after acquiring an additional 935 shares during the last quarter. Crewe Advisors LLC boosted its position in shares of Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer's stock worth $30,000 after purchasing an additional 1,572 shares during the last quarter. Eastern Bank bought a new position in shares of Barrick Gold in the 3rd quarter worth $32,000. JFS Wealth Advisors LLC increased its holdings in Barrick Gold by 451.7% in the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer's stock valued at $38,000 after purchasing an additional 1,563 shares during the last quarter. Finally, AlphaMark Advisors LLC acquired a new position in Barrick Gold in the third quarter valued at about $60,000. Institutional investors own 62.85% of the company's stock.
Barrick Gold Company Profile
(
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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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