BMO Capital Markets Forecasts Strong Price Appreciation for Barrick Gold (TSE:ABX) Stock

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 - Free Report) NYSE: ABX had its price target boosted by BMO Capital Markets from C$31.00 to C$37.00 in a report released on Friday,BayStreet.CA reports.

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

Barrick Gold Stock Up 2.3%

Shares of ABX traded up C$0.92 during midday trading on Friday, reaching C$40.63. 7,980,912 shares of the stock were exchanged, compared to its average volume of 3,964,528. Barrick Gold has a 52 week low of C$21.73 and a 52 week high of C$41.24. The company has a current ratio of 2.65, a quick ratio of 2.62 and a debt-to-equity ratio of 19.83. The company has a market capitalization of C$69.31 billion, a P/E ratio of 25.55, a PEG ratio of 2.34 and a beta of 0.72. The company's 50 day moving average is C$33.38 and its two-hundred day moving average is C$29.31.

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.