Barrick Gold (NYSE:GOLD) Rating Lowered to Equal Weight at Barclays

Barrick Gold (NYSE:GOLD) (TSE:ABX) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a report issued on Tuesday, Stock Target Advisor reports. They currently have a $18.00 target price on the basic materials company’s stock, up from their prior target price of $15.00. Barclays‘s price target would indicate a potential upside of 7.72% from the company’s current price.

A number of other brokerages have also recently issued reports on GOLD. Deutsche Bank lowered their price objective on Vornado Realty Trust from $80.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Citigroup cut Barrick Gold to a “neutral” rating in a research report on Thursday, May 23rd. BMO Capital Markets set a $208.00 price target on Jazz Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, ValuEngine cut China Southern Airlines from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.50.

Shares of Barrick Gold stock opened at $16.71 on Tuesday. Barrick Gold has a 52-week low of $9.53 and a 52-week high of $16.75. The firm has a 50-day moving average price of $14.78. The company has a market cap of $28.63 billion, a PE ratio of 47.74, a P/E/G ratio of 19.72 and a beta of -0.24. The company has a quick ratio of 1.47, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.01. Barrick Gold had a positive return on equity of 3.42% and a negative net margin of 21.10%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Research analysts predict that Barrick Gold will post 0.41 earnings per share for the current fiscal year.

Barrick Gold Company Profile

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a 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, a copper mine located in Saudi Arabia.

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