Barrick Gold (TSE:ABX) (NYSE:ABX) was upgraded by equities researchers at Desjardins from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a C$22.00 price objective on the stock. Desjardins’ target price would suggest a potential upside of 26.15% from the stock’s current price.
Several other research analysts have also recently commented on the company. JPMorgan Chase & Co. increased their price target on Barrick Gold from C$17.00 to C$18.00 in a research report on Wednesday, January 9th. Haywood Securities upped their price objective on Barrick Gold from C$18.00 to C$19.00 in a research note on Thursday, February 14th. Finally, GMP Securities restated a “hold” rating and issued a C$17.15 price objective on shares of Barrick Gold in a research note on Wednesday, February 27th.
Shares of TSE ABX opened at C$17.44 on Wednesday. Barrick Gold has a 52 week low of C$12.54 and a 52 week high of C$18.99. The company has a quick ratio of 1.20, a current ratio of 2.39 and a debt-to-equity ratio of 61.14. The company has a market cap of $30.98 billion and a P/E ratio of -13.17.
An institutional investor recently raised its position in Barrick Gold stock. FMR LLC raised its holdings in Barrick Gold Corp (TSE:ABX) (NYSE:ABX) by 123.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,759,704 shares of the company’s stock after buying an additional 8,709,003 shares during the period. FMR LLC owned about 0.90% of Barrick Gold worth $212,753,000 at the end of the most recent quarter.
Barrick Gold Company Profile
Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the ZaldÃvar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.
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