JPMorgan Chase & Co. Reiterates C$92.00 Price Target for Barrick Gold (TSE:ABX)

Barrick Gold (TSE:ABX) (NYSE:ABX) has been assigned a C$92.00 price target by research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 31.48% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Citigroup upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. National Bankshares raised their target price on Barrick Gold from C$65.00 to C$77.50 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. BNP Paribas Exane upgraded Barrick Gold to a “strong-buy” rating in a research note on Friday, December 5th. DZ Bank upgraded Barrick Gold to a “strong-buy” rating in a research note on Monday, January 19th. Finally, Scotiabank upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Seven analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Barrick Gold currently has a consensus rating of “Buy” and an average target price of C$60.69.

Barrick Gold Stock Down 2.6%

Shares of ABX traded down C$1.89 during midday trading on Thursday, reaching C$69.97. 4,334,974 shares of the company were exchanged, compared to its average volume of 4,496,789. Barrick Gold has a 1-year low of C$23.41 and a 1-year high of C$74.00. The stock has a 50-day moving average price of C$62.06 and a 200-day moving average price of C$47.92. The company has a current ratio of 2.65, a quick ratio of 2.62 and a debt-to-equity ratio of 19.83. The company has a market cap of C$119.37 billion, a price-to-earnings ratio of 33.64, a P/E/G ratio of 2.34 and a beta of 1.50.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Monday, November 10th. The basic materials company reported C$0.58 EPS for the quarter. Barrick Gold had a return on equity of 6.90% and a net margin of 13.19%.The business had revenue of C$3.41 billion for the quarter. Research analysts expect that Barrick Gold will post 2.2422764 earnings per share for the current year.

Barrick Gold Company Profile

Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry – including six of the world’s Tier One gold mines -Barrick’s operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth.