Barrick Gold (ABX) Stock Forecast & Price Target

C$28.77

-0.51 (-1.74%)

(As of 10/23/2024 ET)

Barrick Gold - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Buy

Based on 8 Analyst Ratings

Sell
0

Hold
1

Buy
7

Based on 8 Wall Street analysts who have issued ratings for Barrick Gold in the last 12 months, the stock has a consensus rating of "Buy." Out of the 8 analysts, 1 has given a hold rating, 6 have given a buy rating, and 1 has given a strong buy rating for ABX.

Consensus Price Target

C$30.77
6.96% Upside

According to the 8 analysts' twelve-month price targets for Barrick Gold, the average price target is C$30.77. The highest price target for ABX is C$38.00, while the lowest price target for ABX is C$24.00. The average price target represents a forecasted upside of 6.96% from the current price of C$28.77.

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ABX Analyst Ratings Over Time

Type	Current Forecast 10/24/23 to 10/23/24	1 Month Ago 9/24/23 to 9/23/24	3 Months Ago 7/26/23 to 7/25/24	1 Year Ago 10/24/22 to 10/24/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	6 Buy rating(s)	6 Buy rating(s)	6 Buy rating(s)	4 Buy rating(s)
Hold	1 Hold rating(s)	1 Hold rating(s)	1 Hold rating(s)	3 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	C$30.77	C$30.18	C$30.18	C$28.45
Forecasted Upside	6.96% Upside	10.56% Upside	23.09% Upside	25.18% Upside
Consensus Rating	Buy	Buy	Moderate Buy	Moderate Buy

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ABX Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

ABX Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Barrick Gold Stock vs. The Competition

Type	Barrick Gold	Basic Materials Companies
Consensus Rating Score	3.00	2.75
Consensus Rating	Buy	Moderate Buy
News Sentiment Rating	Neutral News See Recent ABX News	Neutral News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/21/2024	Stifel Nicolaus 4 of 5 stars		Boost Target		C$28.50 ➝ C$33.50	+14.92%
10/16/2024	TD Securities 4 of 5 stars		Reiterated Rating	Buy	C$34.00	+22.57%
8/29/2024	Argus 3 of 5 stars	D. Coleman Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
7/23/2024	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$31.00 ➝ C$33.00	+28.76%
7/11/2024	Eight Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$36.00 ➝ C$38.00	+53.60%
4/19/2024	National Bankshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Perform	C$30.00 ➝ C$28.00	+19.20%
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4/18/2024	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	C$31.00 ➝ C$32.00	+36.81%
4/12/2024	Veritas Investment Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$20.70 ➝ C$25.00	+0.08%
4/8/2024	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Parkin Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Sector Perform Overweight
4/8/2024	Berenberg Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		C$29.00 ➝ C$31.00	+28.68%
2/16/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$28.00 ➝ C$24.00	+21.21%
2/15/2024	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform	C$31.00	+59.46%
2/16/2023	Cormark Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		C$27.00 ➝ C$25.00	+9.46%
1/30/2023	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Equal Weight	C$26.00	-0.76%
11/15/2022	Fundamental Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy	C$26.00	+21.44%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 10:24 PM ET.

Should I Buy Barrick Gold Stock? ABX Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Sunday, October 13, 2024. Please send any questions or comments about these Barrick Gold pros and cons to contact@marketbeat.com.

Barrick Gold
Bull Case

Here are some ways that investors could benefit from investing in Barrick Gold Co.:

Barrick Gold Co. reported earnings per share (EPS) of C$0.44 for the quarter, exceeding analyst estimates by C$0.08. This indicates strong financial performance and potential for growth.
The company had revenue of C$4.33 billion for the quarter, surpassing analyst expectations of C$4.12 billion. This demonstrates robust revenue generation capabilities.
Barrick Gold Co. recently increased its dividend, providing investors with a higher annualized dividend of $0.55 and a dividend yield of 2.01%. This can be attractive for income-seeking investors.
Insider activity shows a mix of selling and buying, with Senior Officer Riaan Grobler selling shares and Director Andrew James Quinn acquiring shares. This activity can indicate confidence or strategic moves within the company.
The company engages in the exploration, development, and sale of gold, copper, silver, and energy materials, offering diversification in its product portfolio which can mitigate risks associated with a single commodity.

Barrick Gold
Bear Case

Investors should be bearish about investing in Barrick Gold Co. for these reasons:

Despite positive financial results, Barrick Gold Co.'s stock price may have already factored in the good news, potentially limiting short-term upside for investors.
The insider selling activity, especially significant amounts by Senior Officer Riaan Grobler, could raise concerns about the company's future performance or outlook, leading to uncertainty among investors.
While the company has a dividend payout ratio of 46.55%, indicating a portion of earnings distributed as dividends, a high payout ratio may limit future growth opportunities or reinvestment in the business.
Investing in commodities like gold, copper, and silver can be volatile due to market fluctuations and geopolitical factors, exposing investors to inherent risks associated with commodity price movements.
Market conditions and global economic factors can significantly impact Barrick Gold Co.'s operations and financial performance, making it susceptible to external forces beyond its control.

ABX Forecast - Frequently Asked Questions

: According to the research reports of 8 Wall Street equities research analysts, the average twelve-month stock price forecast for Barrick Gold is C$30.77, with a high forecast of C$38.00 and a low forecast of C$24.00.
: 8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Barrick Gold in the last twelve months. There is currently 1 hold rating, 6 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" ABX shares.
: According to analysts, Barrick Gold's stock has a predicted upside of 6.96% based on their 12-month stock forecasts.
: Over the previous 90 days, Barrick Gold's stock had 1 upgrade by analysts.
: Barrick Gold has been rated by research analysts at Argus, Stifel Nicolaus, and TD Securities in the past 90 days.
: Analysts like Barrick Gold more than other "basic materials" companies. The consensus rating for Barrick Gold is Buy while the average consensus rating for "basic materials" companies is Moderate Buy. Learn more on how ABX compares to other companies.

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Protect Your Bank Account with THESE 4 Simple Steps (Ad)

Starting as soon as a few months from now, the United States government will make a sweeping change to bank accounts nationwide. It will give them unprecedented powers to control your bank account.

Learn these 4 simple steps and protect your savings before it’s too late.

This page (TSE:ABX) was last updated on 10/23/2024 by MarketBeat.com Staff

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