Eight Capital Increases Barrick Gold (TSE:ABX) Price Target to C$36.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target raised by investment analysts at Eight Capital from C$32.00 to C$36.00 in a research note issued on Monday, BayStreet.CA reports. The firm currently has a “buy” rating on the basic materials company’s stock. Eight Capital’s price objective suggests a potential upside of 57.89% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Veritas Investment Research lifted their price objective on Barrick Gold from C$20.70 to C$25.00 in a research report on Friday, April 12th. Sanford C. Bernstein lifted their price objective on Barrick Gold from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Berenberg Bank lifted their price objective on Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Finally, Raymond James cut their price target on Barrick Gold from C$28.00 to C$24.00 in a report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of C$29.27.

Barrick Gold Stock Performance

TSE ABX opened at C$22.80 on Monday. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$28.19. The business’s 50-day moving average price is C$21.72 and its 200 day moving average price is C$22.07. The firm has a market cap of C$40.13 billion, a P/E ratio of 23.03, a P/E/G ratio of 1.94 and a beta of 0.46. The company has a quick ratio of 2.62, a current ratio of 3.16 and a debt-to-equity ratio of 16.32.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.09. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%. The company had revenue of C$4.16 billion for the quarter, compared to analyst estimates of C$4.28 billion. On average, equities research analysts expect that Barrick Gold will post 1.196793 earnings per share for the current year.

About Barrick Gold

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.