Barrick Gold (TSE:ABX) Given New C$22.00 Price Target at Canaccord Genuity
Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective hoisted by equities research analysts at Canaccord Genuity from C$21.00 to C$22.00 in a note issued to investors on Monday, BayStreet.CA reports. Canaccord Genuity’s price objective points to a potential downside of 2.96% from the company’s previous close.
Several other research firms also recently commented on ABX. Eight Capital raised their price objective on Barrick Gold from C$20.00 to C$28.00 in a report on Thursday, August 8th. BMO Capital Markets restated an “outperform” rating and set a C$20.00 price objective on shares of Barrick Gold in a report on Thursday, July 4th. Finally, Macquarie restated an “outperform” rating and set a C$28.50 price objective on shares of Barrick Gold in a report on Friday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of C$21.24.
Shares of TSE ABX traded down C$0.18 during midday trading on Monday, hitting C$22.67. The company’s stock had a trading volume of 3,055,083 shares, compared to its average volume of 5,171,335. The company has a current ratio of 2.72, a quick ratio of 1.45 and a debt-to-equity ratio of 31.45. The business’s 50 day moving average is C$24.05 and its two-hundred day moving average is C$19.73. Barrick Gold has a 12-month low of C$13.16 and a 12-month high of C$26.69. The firm has a market cap of $40.05 billion and a P/E ratio of -25.37.
In other news, Senior Officer Mark Francis Hill acquired 20,373 shares of Barrick Gold stock in a transaction on Monday, August 19th. The shares were bought at an average cost of C$24.03 per share, for a total transaction of C$489,563.19. Following the acquisition, the insider now directly owns 38,826 shares of the company’s stock, valued at approximately C$932,988.78.
Large investors have recently made changes to their positions in the company. Cornerstone Advisors Inc. increased its holdings in shares of Barrick Gold by 48.7% in the 1st quarter. Cornerstone Advisors Inc. now owns 2,433 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 797 shares during the period. Synovus Financial Corp boosted its position in shares of Barrick Gold by 152.8% in the 1st quarter. Synovus Financial Corp now owns 2,445 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 1,478 shares in the last quarter. Private Vista LLC acquired a new stake in Barrick Gold during the 1st quarter worth about $137,000. Nicola Wealth Management LTD. acquired a new stake in Barrick Gold during the 1st quarter worth about $192,000. Finally, Checchi Capital Advisers LLC acquired a new stake in Barrick Gold during the 1st quarter worth about $155,000.
Barrick Gold Company Profile
Barrick Gold Corporation explores for and develops mineral properties. The company primarily explores for gold, copper, and silver deposits. It holds a 50% interest in the Veladero, a gold mine located in Argentina; 50% interest in the Kalgoorlie gold mine located in Australia; 95% interest in the Porgera gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid copper mine located in Saudi Arabia.
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