Barrick Gold (NYSE:GOLD) Given New $24.00 Price Target at Raymond James

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price objective reduced by analysts at Raymond James from $25.00 to $24.00 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the gold and copper producer’s stock. Raymond James’ price objective suggests a potential upside of 40.47% from the stock’s current price.

Several other research analysts have also weighed in on GOLD. Citigroup dropped their price objective on shares of Barrick Gold from $23.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Berenberg Bank increased their price target on shares of Barrick Gold from $37.00 to $38.00 in a research note on Tuesday, November 26th. UBS Group lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Finally, Bank of America lowered shares of Barrick Gold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $21.00 to $18.00 in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.83.

Barrick Gold Trading Down 0.6 %

Shares of NYSE:GOLD traded down $0.10 during mid-day trading on Friday, hitting $17.09. The stock had a trading volume of 21,424,839 shares, compared to its average volume of 19,616,662. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.06 and a current ratio of 2.65. The company has a market cap of $29.51 billion, a PE ratio of 18.37, a P/E/G ratio of 0.36 and a beta of 0.55. Barrick Gold has a 12-month low of $13.76 and a 12-month high of $21.35. The company’s 50 day moving average is $16.20 and its 200-day moving average is $18.19.

Institutional Trading of Barrick Gold

Hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in shares of Barrick Gold by 2.1% during the 4th quarter. Van ECK Associates Corp now owns 76,299,834 shares of the gold and copper producer’s stock worth $1,182,641,000 after acquiring an additional 1,563,361 shares during the period. Wellington Management Group LLP increased its position in shares of Barrick Gold by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 54,712,508 shares of the gold and copper producer’s stock worth $1,088,484,000 after purchasing an additional 1,458,084 shares in the last quarter. Amundi increased its position in Barrick Gold by 1.7% in the 4th quarter. Amundi now owns 14,120,278 shares of the gold and copper producer’s stock valued at $223,665,000 after acquiring an additional 236,116 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Barrick Gold by 33.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,431,497 shares of the gold and copper producer’s stock valued at $227,524,000 after acquiring an additional 2,854,055 shares in the last quarter. Finally, Ruffer LLP increased its position in Barrick Gold by 14.8% in the 4th quarter. Ruffer LLP now owns 10,269,848 shares of the gold and copper producer’s stock valued at $159,180,000 after acquiring an additional 1,325,119 shares in the last quarter. 62.85% of the stock is owned by institutional investors.

About Barrick Gold

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.