Cibc World Mkts Upgrades Barrick Gold (TSE:ABX) to Strong-Buy

Key Points

• Barrick Gold has been upgraded from a "hold" rating to a "strong-buy" rating by Cibc World Mkts, indicating increased confidence in the stock.
• Other analysts have provided mixed ratings, with Sanford C. Bernstein lowering their price target and BMO Capital Markets upgrading to a "hold" rating, reflecting various market perspectives.
• Barrick Gold's current market capitalization is C$39.37 billion, with a recent share price of C$32.39, showing significant performance over the past year.

Cibc World Mkts upgraded shares of Barrick Gold (TSE:ABX - Free Report) NYSE: ABX from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets raised shares of Barrick Gold to a "hold" rating in a research note on Tuesday, April 15th. Sanford C. Bernstein decreased their price target on shares of Barrick Gold from C$45.00 to C$43.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Stifel Nicolaus increased their price target on shares of Barrick Gold from C$34.00 to C$37.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of C$33.14.

Barrick Gold Trading Up 2.0%

Shares of TSE:ABX traded up C$0.64 during midday trading on Tuesday, hitting C$33.31. 8,862,621 shares of the stock traded hands, compared to its average volume of 3,728,003. The stock has a market capitalization of C$40.49 billion, a PE ratio of 25.08, a P/E/G ratio of 2.34 and a beta of 0.48. The business's 50 day moving average is C$29.46 and its two-hundred day moving average is C$27.41. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. Barrick Gold has a one year low of C$21.73 and a one year high of C$33.33.

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.