Barrick Gold (TSE:ABX) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price upped by Stifel Nicolaus from C$65.00 to C$95.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 49.30% from the company’s previous close.

A number of other research firms have also issued reports on ABX. JPMorgan Chase & Co. set a C$92.00 target price on shares of Barrick Gold and gave the company an “overweight” rating in a report on Thursday, January 29th. Canaccord Genuity Group upped their price objective on shares of Barrick Gold from C$68.00 to C$70.00 in a research note on Monday, December 1st. National Bankshares decreased their target price on shares of Barrick Gold from C$82.50 to C$75.00 and set an “outperform” rating on the stock in a research report on Tuesday. Atb Cormark Cm raised shares of Barrick Gold to a “moderate buy” rating in a research note on Monday. Finally, BNP Paribas Exane raised Barrick Gold to a “strong-buy” rating in a research note on Friday, December 5th. Seven analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$67.44.

Barrick Gold Price Performance

TSE:ABX traded up C$0.36 during trading hours on Tuesday, reaching C$63.63. 1,354,093 shares of the company traded hands, compared to its average volume of 5,427,856. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62. The firm’s 50-day moving average is C$63.36 and its 200-day moving average is C$50.02. The stock has a market cap of C$106.60 billion, a P/E ratio of 21.72, a P/E/G 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.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Monday, November 10th. The basic materials company reported C$0.58 earnings per share (EPS) for the quarter. The business had revenue of C$3.41 billion for the quarter. Barrick Gold had a return on equity of 6.90% and a net margin of 13.19%. Equities research analysts expect that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

About Barrick Gold

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.