Barrick Gold Co. (TSE:ABX) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Barrick Gold Co. has received an average recommendation of “Moderate Buy” from analysts, with four hold ratings, five buy ratings, and three strong buy ratings among the twelve ratings firms covering the stock.
• The average 12-month target price for Barrick Gold among analysts is C$33.14, while the stock recently opened at C$39.37.
• CIBC World Markets has upgraded Barrick Gold from a “hold” rating to a “strong buy” rating, reflecting increased confidence in the company's prospects.

Shares of Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX have been given an average rating of "Moderate Buy" by the twelve ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$33.63.

A number of research analysts have commented on ABX shares. Cibc World Mkts upgraded shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. BMO Capital Markets increased their price objective on shares of Barrick Gold from C$31.00 to C$37.00 in a research note on Friday.

Barrick Gold Stock Down 1.2%

Shares of ABX stock traded down C$0.47 on Friday, hitting C$40.22. The stock had a trading volume of 5,065,377 shares, compared to its average volume of 3,918,938. The firm has a market capitalization of C$68.62 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 2.34 and a beta of 0.72. The stock's 50 day moving average is C$32.95 and its 200-day moving average is C$29.10. The company has a debt-to-equity ratio of 19.83, a quick ratio of 2.62 and a current ratio of 2.65. Barrick Gold has a 52-week low of C$21.73 and a 52-week high of C$41.24.

About Barrick Gold

Barrick Gold Corp is one of the world's largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.