Brokerages Set Barrick Gold Co. (TSE:ABX) Target Price at C$53.69

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) has been assigned an average recommendation of “Buy” from the fifteen brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and seven have issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$53.69.

ABX has been the subject of several analyst reports. National Bankshares increased their price target on shares of Barrick Gold from C$65.00 to C$77.50 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. Canaccord Genuity Group upped their price objective on Barrick Gold from C$68.00 to C$70.00 in a report on Monday, December 1st. Citigroup raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. National Bank Financial upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Finally, Cormark upped their price target on Barrick Gold from C$66.00 to C$78.00 in a research note on Tuesday, November 25th.

Barrick Gold Stock Up 1.8%

Shares of ABX opened at C$61.62 on Tuesday. Barrick Gold has a 52-week low of C$21.81 and a 52-week high of C$62.57. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. The stock has a fifty day simple moving average of C$51.94 and a two-hundred day simple moving average of C$40.64. The company has a market capitalization of C$105.12 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.34 and a beta of 1.28.

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

Barrick Gold Company Profile

Barrick Gold Corp is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment. Geographically, it derives a majority of revenue from the United States.