National Bankshares lowers Barrick Gold (TSE:ABX) target price to C$34.00


Barrick Gold (TSE:ABX – Get a Rating) (NYSE:ABX) had its price target reduced by National Bankshares from CA$38.00 to CA$34.00 in a report released Friday, BayStreet.CA reports. The brokerage currently has an “industry performance” rating on shares of the basic materials company. National Bank’s stock price target indicates a potential upside of 28.84% from the stock’s previous close.

Several other research analysts also weighed in on the company. National Bank Financial lowered its price target on Barrick Gold to C$29.00 and set an “sector performance” rating on the stock in a Wednesday, Feb. 23 research report. Eight Capital raised its price target on Barrick Gold from C$34.00 to C$40.00 and gave the company a “buy” rating in a Thursday, April 21 research report. Fundamental Research reissued a “buy” rating and set a price target of C$34.00 on Barrick Gold shares in a research report on Tuesday, May 10. Royal Bank of Canada set a target price of C$23.00 on Barrick Gold and gave the stock an “outperform” rating in a Tuesday, February 15 research report. Finally, Raymond James raised his target price on Barrick Gold from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a Friday, Feb. 11 research report. Three research analysts gave the stock a hold rating and eight gave the company a buy rating. According to MarketBeat, the stock currently has an average buy rating and a consensus price target of C$32.00.

Shares of Barrick Gold opened at C$26.39 on Friday. The company has a quick ratio of 2.98, a current ratio of 3.95 and a debt ratio of 16.94. The company has a market cap of C$46.96 billion and a price-to-earnings ratio of 18.23. The company has a 50-day simple moving average of C$30.20 and a 200-day simple moving average of C$26.80. Barrick Gold has a fifty-two week low of C$22.30 and a fifty-two week high of C$33.50.

Barrick Gold (TSE:ABX – Get Rating) (NYSE:ABX) last reported results on Wednesday, February 16. The basic materials company reported EPS of C$0.44 for the quarter, beating the consensus estimate of C$0.37 by C$0.07. The company posted revenue of C$4.17 billion for the quarter, while analysts had expected C$4.35 billion. Analysts expect Barrick Gold to post earnings per share of 1.5400001 for the current fiscal year.

Barrick Gold Company Profile (Get an evaluation)

Barrick Gold Corporation is engaged in the exploration, mine development, production and sale of gold and copper properties. It holds interests in producing gold mines located in Argentina, Canada, Côte d’Ivoire, Democratic Republic of Congo, Dominican Republic, Mali, Tanzania and the United States.

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