Barrick Gold (ABX) Stock Forecast & Price Target

C$25.49 +0.18 (+0.71%)

(As of 11/22/2024 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

Moderate Buy

Based on 9 Analyst Ratings

Sell
0

Hold
2

Buy
7

Based on 9 Wall Street analysts who have issued ratings for Barrick Gold in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 9 analysts, 2 have given a hold rating, 6 have given a buy rating, and 1 has given a strong buy rating for ABX.

Consensus Price Target

C$31.14
22.15% Upside

According to the 9 analysts' twelve-month price targets for Barrick Gold, the average price target is C$31.14. 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 22.15% from the current price of C$25.49.

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ABX Analyst Ratings Over Time

Type	Current Forecast 11/23/23 to 11/22/24	1 Month Ago 10/24/23 to 10/23/24	3 Months Ago 8/25/23 to 8/24/24	1 Year Ago 11/23/22 to 11/23/23
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)	3 Buy rating(s)
Hold	2 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$31.14	C$30.77	C$30.18	C$28.44
Forecasted Upside	22.15% Upside	6.96% Upside	8.92% Upside	29.09% Upside
Consensus Rating	Moderate 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	2.89	2.76
Consensus Rating	Moderate Buy	Moderate Buy
News Sentiment Rating	Neutral News See Recent ABX News	Positive 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
11/5/2024	Sanford C. Bernstein 3 of 5 stars		Lower Target		C$37.00 ➝ C$36.00	+37.35%
10/30/2024	UBS Group 4 of 5 stars	D. Major Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Strong-Buy ➝ Hold
10/21/2024	Stifel Nicolaus 4 of 5 stars		Boost Target		C$28.50 ➝ C$33.50	+14.92%
10/16/2024	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy	C$34.00	+22.57%
8/29/2024	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating	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%
Get the Latest News and Ratings for ABX and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Barrick Gold and its competitors with MarketBeat's FREE daily newsletter.
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%
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%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Friday at 07:10 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 Wednesday, November 20, 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.:

The recent quarterly earnings report showed earnings per share (EPS) of C$0.44, exceeding expectations, which indicates strong financial performance and potential for growth.
With a current stock price around C$28.10, Barrick Gold Co. is positioned well within its 12-month range, suggesting stability and potential for appreciation.
The company has a solid market capitalization of C$49.26 billion, reflecting its significant presence in the gold and copper market, which can provide a sense of security for investors.
Barrick Gold Co. has recently increased its quarterly dividend to $0.138, demonstrating a commitment to returning value to shareholders, which can attract income-focused investors.
The company maintains a healthy current ratio of 3.01, indicating strong liquidity and the ability to cover short-term obligations, which is a positive sign for financial stability.

Barrick Gold
Bear Case

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

The debt-to-equity ratio is quite high at 14.54, suggesting that the company relies heavily on debt financing, which can increase financial risk, especially in volatile markets.
Despite the recent dividend increase, the company has also announced a cut in its upcoming dividend to $0.135, which may signal potential cash flow issues or a more conservative approach to capital allocation.
Insider selling activity has been notable, with significant shares sold recently, which could indicate a lack of confidence among insiders regarding the company's future performance.
The P/E ratio of 23.66 may suggest that the stock is overvalued compared to its earnings, which could deter value investors looking for bargains.
The beta of 0.48 indicates lower volatility compared to the market, which may not appeal to investors seeking high-growth opportunities in more dynamic sectors.

ABX Forecast - Frequently Asked Questions

: According to the research reports of 9 Wall Street equities research analysts, the average twelve-month stock price forecast for Barrick Gold is C$31.14, with a high forecast of C$38.00 and a low forecast of C$24.00.
: 9 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Barrick Gold in the last twelve months. There are currently 2 hold ratings, 6 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" ABX shares.
: According to analysts, Barrick Gold's stock has a predicted upside of 22.15% based on their 12-month stock forecasts.
: Over the previous 90 days, Barrick Gold's stock had 1 upgrade and 1 downgrade by analysts.
: Barrick Gold has been rated by research analysts at Argus, Sanford C. Bernstein, Stifel Nicolaus, TD Securities, and UBS Group in the past 90 days.
: Analysts like Barrick Gold more than other "basic materials" companies. The consensus rating score for Barrick Gold is 2.89 while the average consensus rating score for "basic materials" companies is 2.76. Learn more on how ABX compares to other companies.

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This page (TSE:ABX) was last updated on 11/22/2024 by MarketBeat.com Staff

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Barrick Gold (ABX) Stock Forecast & Price Target