Barrick Gold (TSE:ABX) PT raised to C$40.00 at Eight Capital

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Barrick Gold (EAST: ABXGet a rating) (NYSE:ABX) had its target price raised by investment analysts at Eight Capital from C$34.00 to C$40.00 in a research note released Thursday, BayStreet.CA reports. Eight Capital’s price target suggests a potential upside of 32.98% from the stock’s previous close.

A number of other stock analysts have also recently commented on the company. Fundamental Research raised its price target on Barrick Gold to C$33.50 and gave the stock a “buy” rating in a Tuesday, March 1 report. National Bank Financial lowered its price target on Barrick Gold to C$29.00 and set an “sector performance” rating for the company in a Wednesday, Feb. 23 report. Royal Bank of Canada set a price target of C$23.00 on Barrick Gold and gave the company an “outperform” rating in a Tuesday, February 15, report. Raymond James raised his price target on Barrick Gold from CA$26.00 to CA$27.00 and gave the company an “outperform” rating in a Friday, February 11, report. Finally, National Bankshares raised its target price on Barrick Gold from C$29.00 to C$38.00 in a research report on Wednesday. Three research analysts gave the stock a hold rating and seven gave the company a buy rating. According to data from MarketBeat, Barrick Gold currently has an average rating of “Buy” and a consensus price target of CA$31.79.

IS ABX traded at C$1.49 during Thursday’s trading, reaching C$30.08. 2,341,075 shares of shares traded in hands, compared to its average volume of 4,538,754. The company has a market capitalization of C$53.52 billion and a P/E ratio of 20.98. The company has a quick ratio of 2.98, a current ratio of 3.95 and a leverage ratio of 16.94. The company has a 50-day simple moving average of C$30.35 and a 200-day simple moving average of C$26.20. Barrick Gold has a 12-month low of C$22.30 and a 12-month high of C$33.50.

Barrick Gold (EAST: ABXGet a rating) (NYSE:ABX) last reported results on Wednesday, February 16. The basic materials company reported EPS of C$0.44 for the quarter, beating the Zacks consensus estimate of C$0.37 by C$0.07. The company posted revenue of C$4.17 billion in the quarter, while analysts had expected C$4.35 billion. As a group, research analysts predict Barrick Gold will post EPS of 1.57 for the current fiscal year.

About Barrick Gold (Get a rating)

Barrick Gold Corporation is engaged in the exploration, mine development, production and sale of gold and copper properties. It holds interests in producing gold mines located in Argentina, Canada, Côte d’Ivoire, Democratic Republic of Congo, Dominican Republic, Mali, Tanzania and the United States.

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