Barrick Gold (NYSE:GOLD) Given New $24.00 Price Target at Raymond James

Barrick Gold (NYSE:GOLDFree Report) (TSE:ABX) had its target price lowered by Raymond James from $25.00 to $24.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. The firm currently has an outperform rating on the gold and copper producer’s stock.

Several other equities analysts have also recently weighed in on the stock. National Bank Financial reaffirmed a sector perform overweight rating on shares of Barrick Gold in a research note on Wednesday, January 3rd. CIBC decreased their target price on shares of Barrick Gold from $27.00 to $23.00 and set an outperform rating for the company in a research report on Wednesday. Sanford C. Bernstein cut shares of Barrick Gold from an outperform rating to a market perform rating in a research report on Monday, January 8th. BMO Capital Markets reduced their price objective on shares of Barrick Gold from $28.00 to $27.00 and set an outperform rating for the company in a research note on Wednesday, January 17th. Finally, StockNews.com downgraded Barrick Gold from a buy rating to a hold rating in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $21.98.

Check Out Our Latest Research Report on Barrick Gold

Barrick Gold Stock Down 1.0 %

GOLD stock opened at $14.67 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.07 and a quick ratio of 2.28. The stock has a market capitalization of $25.75 billion, a P/E ratio of 489.00, a P/E/G ratio of 0.99 and a beta of 0.58. Barrick Gold has a fifty-two week low of $13.82 and a fifty-two week high of $20.75. The business has a 50-day moving average of $16.79 and a 200-day moving average of $16.30.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GOLD. Wellington Management Group LLP boosted its position in shares of Barrick Gold by 35.0% in the third quarter. Wellington Management Group LLP now owns 63,551,991 shares of the gold and copper producer’s stock valued at $925,121,000 after acquiring an additional 16,485,756 shares during the period. Snider Financial Group bought a new stake in Barrick Gold in the 1st quarter valued at about $185,000. Van ECK Associates Corp grew its position in shares of Barrick Gold by 9.7% during the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $1,464,070,000 after purchasing an additional 7,150,142 shares in the last quarter. Bank of Nova Scotia grew its position in shares of Barrick Gold by 60.1% during the 2nd quarter. Bank of Nova Scotia now owns 15,183,895 shares of the gold and copper producer’s stock worth $256,868,000 after purchasing an additional 5,697,106 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Barrick Gold by 13.9% during the first quarter. BlackRock Inc. now owns 42,464,736 shares of the gold and copper producer’s stock worth $788,570,000 after purchasing an additional 5,188,456 shares during the period. Institutional investors and hedge funds own 58.20% of the company’s stock.

About Barrick Gold

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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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Analyst Recommendations for Barrick Gold (NYSE:GOLD)

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