Barrick Gold (TSE:ABX) Given New C$37.00 Price Target at BMO Capital Markets

Key Points

• Barrick Gold's target price has been raised by BMO Capital Markets from C$31.00 to C$37.00, indicating a potential downside of 7.68% from its previous close.
• CIBC World Markets upgraded Barrick Gold from a "hold" to a "strong-buy" rating, with three analysts giving it a Strong Buy rating overall.
• The stock has shown significant price movement, with a one-year low of C$21.73 and a high of C$41.24, reflecting Barrick Gold's standing as one of the world's largest gold producers.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its target price upped by research analysts at BMO Capital Markets from C$31.00 to C$37.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. BMO Capital Markets' target price would suggest a potential downside of 7.68% from the stock's previous close.

Separately, Cibc World Mkts raised shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$33.63.

Barrick Gold Price Performance

ABX stock traded down C$0.61 during trading on Friday, hitting C$40.08. 1,578,870 shares of the stock traded hands, compared to its average volume of 3,898,829. Barrick Gold has a one year low of C$21.73 and a one year high of C$41.24. The stock has a market cap of C$68.38 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 2.34 and a beta of 0.72. The company has a 50 day simple moving average of C$32.73 and a 200 day simple moving average of C$29.00. The company has a current ratio of 2.65, a quick ratio of 2.62 and a debt-to-equity ratio of 19.83.

Barrick Gold Company Profile

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.

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