Barrick Gold (NYSE:ABX) (TSE:ABX) has been assigned a $11.00 target price by investment analysts at Citigroup in a report released on Thursday. The firm presently has a “sell” rating on the basic materials company’s stock. Citigroup’s price target points to a potential downside of 2.14% from the company’s current price.
A number of other research firms have also recently issued reports on ABX. Zacks Investment Research cut Barrick Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Morgan Stanley decreased their target price on Barrick Gold from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday. TD Securities decreased their target price on Barrick Gold from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Monday, November 6th. Credit Suisse Group reiterated a “hold” rating and issued a $19.00 target price on shares of Barrick Gold in a research report on Thursday, January 18th. Finally, Royal Bank of Canada cut Barrick Gold from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $21.00 to $18.00 in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $17.38.
Barrick Gold (NYSE:ABX) traded down $0.28 on Thursday, hitting $11.24. The stock had a trading volume of 12,874,414 shares, compared to its average volume of 13,194,065. Barrick Gold has a 12 month low of $11.10 and a 12 month high of $20.36. The company has a quick ratio of 1.60, a current ratio of 2.68 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $13,150.00, a P/E ratio of 11.91, a P/E/G ratio of 6.67 and a beta of -0.35.
A number of hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. boosted its holdings in Barrick Gold by 27.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 62,970 shares of the basic materials company’s stock valued at $911,000 after acquiring an additional 13,389 shares during the last quarter. Meitav Dash Investments Ltd. bought a new stake in Barrick Gold in the fourth quarter valued at approximately $195,000. Gotham Asset Management LLC boosted its holdings in Barrick Gold by 23.5% in the fourth quarter. Gotham Asset Management LLC now owns 469,515 shares of the basic materials company’s stock valued at $6,794,000 after acquiring an additional 89,248 shares during the last quarter. Reilly Herbert Faulkner III lifted its stake in Barrick Gold by 42.3% in the fourth quarter. Reilly Herbert Faulkner III now owns 338,359 shares of the basic materials company’s stock valued at $4,896,000 after buying an additional 100,624 shares during the period. Finally, LPL Financial LLC lifted its stake in Barrick Gold by 21.6% in the fourth quarter. LPL Financial LLC now owns 135,510 shares of the basic materials company’s stock valued at $1,961,000 after buying an additional 24,041 shares during the period. Institutional investors and hedge funds own 54.53% of the company’s stock.
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About Barrick Gold
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.
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