Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price target reduced by research analysts at Raymond James from $25.00 to $24.00, according to a report issued by BayStreet.CA. The brokerage firm currently rates the gold and copper producer’s stock as “outperform,” with a target price that suggests a potential 63.60% upside from the current price.
Some other research firms have also weighed in on GOLD, with various ratings such as buy, hold, and sell. MarketBeat reports that the stock currently has a “Moderate Buy” rating with a consensus target price of $21.98.
As of Friday, Barrick Gold shares opened at $14.67, with a market capitalization of $25.75 billion. The company’s performance has shown a one-year low of $13.82 and a high of $20.75, with a 50-day simple moving average of $16.79.
Institutional inflows and outflows have illustrated significant interest in Barrick Gold. Several hedge funds have acquired substantial stakes in the company, with 58.20% of the stock currently owned by institutional investors.
Barrick Gold Corporation is a leading gold and copper producer, with shares trading on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX. In addition to these accomplishments, Barrick merged with Randgold Resources in January 2019 and later formed a joint venture, Nevada Gold Mines, in July of the same year.
This information demonstrates the significant interest in Barrick Gold as an investment opportunity. The stock has faced varying ratings from different research firms, and with the expanding reach of the company, there will likely be increased attention from investors and analysts alike.
