Jefferies Group LLC Reiterates Buy Rating for Barrick Gold Corporation (ABX)

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX)‘s stock had its “buy” rating reaffirmed by Jefferies Group LLC in a report released on Thursday. They presently have a $20.00 price target on the basic materials company’s stock. Jefferies Group LLC’s price objective points to a potential upside of 22.25% from the stock’s previous close.

ABX has been the topic of a number of other reports. Royal Bank Of Canada reissued an “outperform” rating on shares of Barrick Gold Corporation in a research note on Thursday, September 7th. BMO Capital Markets set a $18.00 target price on shares of Barrick Gold Corporation and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. BidaskClub lowered shares of Barrick Gold Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Zacks Investment Research lowered shares of Barrick Gold Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating and issued a $19.00 target price on shares of Barrick Gold Corporation in a research note on Thursday, June 15th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Barrick Gold Corporation currently has a consensus rating of “Hold” and an average target price of $20.59.

Barrick Gold Corporation (NYSE ABX) opened at 16.36 on Thursday. Barrick Gold Corporation has a 1-year low of $13.81 and a 1-year high of $20.78. The firm has a market capitalization of $19.08 billion, a price-to-earnings ratio of 8.10 and a beta of -0.29. The company has a 50 day moving average price of $17.20 and a 200-day moving average price of $17.21.

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX) last released its earnings results on Wednesday, July 26th. The basic materials company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.05. Barrick Gold Corporation had a net margin of 26.95% and a return on equity of 8.91%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company posted $0.14 EPS. The business’s revenue was up 7.4% on a year-over-year basis. On average, analysts forecast that Barrick Gold Corporation will post $0.74 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in ABX. Sei Investments Co. raised its position in Barrick Gold Corporation by 32.8% in the first quarter. Sei Investments Co. now owns 295,404 shares of the basic materials company’s stock valued at $5,610,000 after purchasing an additional 73,043 shares during the period. Ameriprise Financial Inc. raised its position in Barrick Gold Corporation by 201.8% in the first quarter. Ameriprise Financial Inc. now owns 45,655 shares of the basic materials company’s stock valued at $867,000 after purchasing an additional 30,526 shares during the period. Parametric Portfolio Associates LLC raised its position in Barrick Gold Corporation by 11.0% in the first quarter. Parametric Portfolio Associates LLC now owns 479,904 shares of the basic materials company’s stock valued at $9,113,000 after purchasing an additional 47,502 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Barrick Gold Corporation by 26.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 45,686 shares of the basic materials company’s stock valued at $868,000 after purchasing an additional 9,534 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Barrick Gold Corporation by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 86,751 shares of the basic materials company’s stock valued at $1,646,000 after purchasing an additional 636 shares during the period. 55.65% of the stock is currently owned by institutional investors.

About Barrick Gold Corporation

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.

Analyst Recommendations for Barrick Gold Corporation (NYSE:ABX)

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