Barrick Gold (NYSE:ABX) (TSE:ABX) was upgraded by stock analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Monday, MarketBeat reports. The brokerage presently has a $16.00 price objective on the basic materials company’s stock, down from their prior price objective of $17.00. Royal Bank of Canada’s price objective points to a potential upside of 31.36% from the company’s previous close.
Several other research firms also recently weighed in on ABX. Zacks Investment Research downgraded Barrick Gold from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Morgan Stanley decreased their price objective on Barrick Gold from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Credit Suisse Group restated a “hold” rating and issued a $19.00 price objective on shares of Barrick Gold in a report on Thursday, January 18th. TD Securities lifted their price objective on Barrick Gold from $17.00 to $17.50 and gave the company a “hold” rating in a report on Friday, January 12th. Finally, Citigroup set a $11.00 price objective on Barrick Gold and gave the company a “sell” rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Barrick Gold currently has an average rating of “Hold” and an average price target of $17.26.
Shares of Barrick Gold (NYSE ABX) opened at $12.18 on Monday. Barrick Gold has a 52-week low of $11.07 and a 52-week high of $20.36. The firm has a market capitalization of $14,230.00, a price-to-earnings ratio of 12.96, a PEG ratio of 6.77 and a beta of -0.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.60 and a current ratio of 2.68.
A number of institutional investors have recently made changes to their positions in ABX. Two Sigma Investments LP raised its holdings in Barrick Gold by 2,166.3% in the fourth quarter. Two Sigma Investments LP now owns 3,844,575 shares of the basic materials company’s stock worth $55,669,000 after purchasing an additional 3,674,935 shares in the last quarter. Kopernik Global Investors LLC bought a new position in Barrick Gold in the fourth quarter worth about $52,633,000. Assenagon Asset Management S.A. raised its holdings in Barrick Gold by 2,758.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,858,553 shares of the basic materials company’s stock worth $41,363,000 after purchasing an additional 2,758,553 shares in the last quarter. Marathon Asset Management LLP raised its holdings in Barrick Gold by 97.1% in the fourth quarter. Marathon Asset Management LLP now owns 5,284,768 shares of the basic materials company’s stock worth $76,475,000 after purchasing an additional 2,603,724 shares in the last quarter. Finally, Flossbach Von Storch AG raised its holdings in Barrick Gold by 8.1% in the third quarter. Flossbach Von Storch AG now owns 28,677,838 shares of the basic materials company’s stock worth $461,427,000 after purchasing an additional 2,148,150 shares in the last quarter. Institutional investors and hedge funds own 52.88% 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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