Eight Capital Increases Barrick Gold (TSE:ABX) Price Target to C$36.00

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its price objective increased by equities research analysts at Eight Capital from C$32.00 to C$36.00 in a note issued to investors on Monday, BayStreet.CA reports. The firm currently has a "buy" rating on the basic materials company's stock. Eight Capital's price objective would indicate a potential upside of 59.93% from the stock's current price.

A number of other analysts also recently issued reports on the company. Stifel Nicolaus lifted their price target on Barrick Gold from C$25.00 to C$27.00 and gave the company a "buy" rating in a research report on Friday. Berenberg Bank raised their price objective on Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. CIBC reissued an "outperform" rating and set a C$31.00 price objective on shares of Barrick Gold in a report on Thursday, February 15th. Raymond James decreased their price target on Barrick Gold from C$28.00 to C$24.00 in a research note on Friday, February 16th. Finally, National Bank Financial reaffirmed a "sector perform overweight" rating on shares of Barrick Gold in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of C$29.27.

Barrick Gold Stock Performance

Shares of Barrick Gold stock traded down C$1.02 during trading hours on Monday, hitting C$22.51. 3,590,238 shares of the company's stock traded hands, compared to its average volume of 3,460,238. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$28.19. The stock has a market capitalization of C$39.62 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.94 and a beta of 0.46. The company has a fifty day simple moving average of C$21.59 and a 200-day simple moving average of C$22.03. The company has a debt-to-equity ratio of 16.32, a current ratio of 3.16 and a quick ratio of 2.62.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last issued its earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 EPS for the quarter, topping the consensus estimate of C$0.28 by C$0.09. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%. The business had revenue of C$4.16 billion during the quarter, compared to the consensus estimate of C$4.28 billion. Equities research analysts anticipate that Barrick Gold will post 1.196793 EPS for the current fiscal year.

About Barrick Gold

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.