Jefferies Financial Group Reaffirms Hold Rating for Barrick Gold (ABX)
Barrick Gold (NYSE:ABX) (TSE:ABX)‘s stock had its “hold” rating reiterated by stock analysts at Jefferies Financial Group in a research report issued on Wednesday. They presently have a $14.00 price objective on the basic materials company’s stock. Jefferies Financial Group’s price target indicates a potential downside of 0.14% from the stock’s previous close. Jefferies Financial Group also issued estimates for Barrick Gold’s FY2019 earnings at $0.47 EPS.
ABX has been the topic of several other reports. Raymond James reiterated a “market perform” rating and issued a $15.00 target price on shares of Barrick Gold in a report on Friday, October 26th. JPMorgan Chase & Co. cut their target price on shares of Barrick Gold from $15.50 to $13.00 and set a “neutral” rating on the stock in a report on Monday, September 17th. UBS Group set a $15.00 target price on shares of Barrick Gold and gave the stock a “hold” rating in a report on Monday, October 29th. Citigroup upgraded shares of Barrick Gold from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, September 25th. Finally, BMO Capital Markets set a $13.00 target price on shares of Barrick Gold and gave the stock a “hold” rating in a report on Wednesday, October 10th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $15.19.
ABX opened at $14.02 on Wednesday. The company has a current ratio of 2.65, a quick ratio of 1.42 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $15.88 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 16.05 and a beta of -0.50. Barrick Gold has a twelve month low of $9.53 and a twelve month high of $15.52.
Several large investors have recently modified their holdings of ABX. Principal Financial Group Inc. raised its holdings in shares of Barrick Gold by 55.0% during the first quarter. Principal Financial Group Inc. now owns 532,756 shares of the basic materials company’s stock worth $6,633,000 after acquiring an additional 189,109 shares during the period. Jennison Associates LLC increased its stake in Barrick Gold by 85.5% in the 2nd quarter. Jennison Associates LLC now owns 28,508 shares of the basic materials company’s stock valued at $374,000 after buying an additional 13,140 shares during the last quarter. Alps Advisors Inc. increased its stake in Barrick Gold by 0.8% in the 2nd quarter. Alps Advisors Inc. now owns 596,422 shares of the basic materials company’s stock valued at $7,831,000 after buying an additional 4,698 shares during the last quarter. State of Wisconsin Investment Board increased its stake in Barrick Gold by 4.6% in the 2nd quarter. State of Wisconsin Investment Board now owns 940,726 shares of the basic materials company’s stock valued at $12,350,000 after buying an additional 41,140 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in Barrick Gold in the 2nd quarter valued at $224,000. Institutional investors and hedge funds own 56.73% of the company’s stock.
About Barrick Gold
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 ZaldÃvar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.
Receive News & Ratings for Barrick Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barrick Gold and related companies with MarketBeat.com's FREE daily email newsletter.