Barrick Gold Corp (ABX) Given Average Rating of “Hold” by Analysts

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Barrick Gold Corp (NYSE:ABX) (TSE:ABX) has been given a consensus recommendation of “Hold” by the nineteen research firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $15.58.

A number of research firms have recently weighed in on ABX. Desjardins reissued an “average” rating and set a $22.00 price objective on shares of Barrick Gold in a research note on Monday, January 7th. CIBC reissued a “sector outperform” rating on shares of Barrick Gold in a research note on Thursday, January 3rd. Zacks Investment Research lowered Barrick Gold from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Jefferies Financial Group reissued a “hold” rating and set a $14.00 price objective on shares of Barrick Gold in a research note on Wednesday, December 12th. Finally, Raymond James set a $17.00 price objective on Barrick Gold and gave the company a “hold” rating in a research note on Friday, November 9th.

A number of hedge funds have recently made changes to their positions in ABX. BlackRock Inc. lifted its stake in Barrick Gold by 0.3% in the second quarter. BlackRock Inc. now owns 3,342,272 shares of the basic materials company’s stock worth $43,884,000 after acquiring an additional 11,501 shares during the period. Millennium Management LLC lifted its stake in Barrick Gold by 339.0% in the second quarter. Millennium Management LLC now owns 119,966 shares of the basic materials company’s stock worth $1,575,000 after acquiring an additional 92,642 shares during the period. Northern Trust Corp lifted its stake in Barrick Gold by 13.8% in the second quarter. Northern Trust Corp now owns 1,183,805 shares of the basic materials company’s stock worth $15,545,000 after acquiring an additional 143,530 shares during the period. Clean Yield Group purchased a new stake in Barrick Gold in the third quarter worth $233,000. Finally, Alps Advisors Inc. lifted its stake in Barrick Gold by 2.4% in the third quarter. Alps Advisors Inc. now owns 610,598 shares of the basic materials company’s stock worth $6,765,000 after acquiring an additional 14,176 shares during the period. 56.73% of the stock is owned by institutional investors.

NYSE:ABX opened at $13.37 on Thursday. The company has a market cap of $15.61 billion, a PE ratio of 17.83, a P/E/G ratio of 14.29 and a beta of -0.54. Barrick Gold has a fifty-two week low of $9.53 and a fifty-two week high of $15.52. The company has a quick ratio of 1.42, a current ratio of 2.65 and a debt-to-equity ratio of 0.53.

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 Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.

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Analyst Recommendations for Barrick Gold (NYSE:ABX)

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