CIBC Trims Barrick Gold (NYSE:GOLD) Target Price to $23.00

Barrick Gold (NYSE:GOLDFree Report) (TSE:ABX) had its price target reduced by CIBC from $27.00 to $23.00 in a research report report published on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the gold and copper producer’s stock.

A number of other equities analysts have also recently commented on GOLD. Sanford C. Bernstein cut Barrick Gold from an outperform rating to a market perform rating in a report on Monday, January 8th. Raymond James reduced their target price on Barrick Gold from $26.00 to $25.00 and set an outperform rating for the company in a report on Friday, October 13th. TD Securities cut their price target on Barrick Gold from $25.00 to $22.00 and set a buy rating for the company in a report on Monday, November 6th. Scotiabank lowered their price target on Barrick Gold from $26.00 to $25.00 and set an outperform rating for the company in a report on Friday, November 3rd. Finally, National Bank Financial reissued a sector perform overweight rating on shares of Barrick Gold in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Barrick Gold currently has an average rating of Moderate Buy and a consensus price target of $22.05.

Read Our Latest Research Report on GOLD

Barrick Gold Stock Down 0.6 %

Shares of GOLD opened at $14.94 on Wednesday. The firm has a market cap of $26.23 billion, a P/E ratio of 498.00, a P/E/G ratio of 1.01 and a beta of 0.58. The stock has a 50 day simple moving average of $16.90 and a two-hundred day simple moving average of $16.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.07 and a quick ratio of 2.28. Barrick Gold has a 1 year low of $13.82 and a 1 year high of $20.75.

Institutional Trading of Barrick Gold

A number of institutional investors and hedge funds have recently bought and sold shares of GOLD. Creative Financial Designs Inc. ADV boosted its holdings in Barrick Gold by 7.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock worth $165,000 after buying an additional 600 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Barrick Gold by 5.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 13,714 shares of the gold and copper producer’s stock valued at $200,000 after acquiring an additional 689 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of Barrick Gold by 2.9% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 24,555 shares of the gold and copper producer’s stock worth $357,000 after buying an additional 694 shares during the last quarter. A. D. Beadell Investment Counsel Inc. increased its holdings in shares of Barrick Gold by 1.2% in the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock worth $1,082,000 after acquiring an additional 700 shares during the period. Finally, Fifth Third Bancorp increased its stake in Barrick Gold by 13.1% during the 3rd quarter. Fifth Third Bancorp now owns 6,067 shares of the gold and copper producer’s stock valued at $88,000 after buying an additional 702 shares during the period. 58.20% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Gold Company Profile

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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.

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