Barrick Gold’s price target was reduced by Jefferies Financial Group from $17.00 to $15.00. This led to a potential upside of 2.32% from the company’s current price. Other equities analysts have also commented on GOLD. Citigroup cut their price objective on shares of Barrick Gold from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, November 28th. BMO Capital Markets cut their target price on shares of Barrick Gold from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Thursday. TD Securities cut their target price on shares of Barrick Gold from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, November 6th. Sanford C. Bernstein lowered shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Finally, Raymond James cut their target price on shares of Barrick Gold from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th.
Barrick Gold’s stock opened at $14.66 on Thursday and has a 50-day moving average price of $16.50 and a 200-day moving average price of $16.21. Barrick Gold last issued its quarterly earnings data on Wednesday, February 14th, and reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. Barrick Gold has a net margin of 11.16% and a return on equity of 4.66%. The company’s institutional investors and hedge funds have also shown significant activity with notable shares being bought and sold.
Barrick Gold Corporation is a sector-leading gold and copper producer. Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX. In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.
Additional Insight:
The reduced price target set by Jefferies Financial Group and other equities analysts’ comments indicate potential challenges that Barrick Gold may be facing. The company’s merger with Randgold Resources and the joint venture with Newmont Corporation show Barrick Gold’s effort to address industry changes and opportunities for growth. The company’s ability to navigate these changes in the industry and effectively leverage these partnerships will be key to its future performance.
