ATB Capital Lowers Barrick Gold (TSE:ABX) Price Target to C$94.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective decreased by ATB Capital from C$100.00 to C$94.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. ATB Capital’s price target indicates a potential upside of 49.73% from the stock’s current price.

Several other equities analysts have also recently issued reports on the stock. BNP Paribas Exane upgraded shares of Barrick Gold to a “strong-buy” rating in a research note on Friday, December 5th. Citigroup upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. National Bankshares raised their target price on Barrick Gold from C$77.50 to C$82.50 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Scotiabank upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, JPMorgan Chase & Co. set a C$92.00 price target on Barrick Gold and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Seven investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$64.94.

Barrick Gold Stock Performance

ABX traded up C$1.03 during midday trading on Monday, hitting C$62.78. 1,997,001 shares of the company were exchanged, compared to its average volume of 5,162,077. The company’s 50 day simple moving average is C$63.28 and its 200 day simple moving average is C$49.78. The firm has a market capitalization of C$105.18 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 2.34 and a beta of 1.47. Barrick Gold has a 1-year low of C$24.28 and a 1-year high of C$74.00. The company has a current ratio of 2.65, a quick ratio of 2.62 and a debt-to-equity ratio of 19.83.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted 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 firm had revenue of C$3.41 billion for the quarter. As a group, sell-side analysts predict 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.