Barrick Gold (ABX) Given a $17.00 Price Target at Raymond James

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Raymond James set a $17.00 price objective on Barrick Gold (NYSE:ABX) (TSE:ABX) in a report released on Friday morning. The brokerage currently has a hold rating on the basic materials company’s stock.

Other analysts have also issued research reports about the stock. TD Securities raised shares of Barrick Gold from a hold rating to a buy rating and lifted their price objective for the stock from $13.50 to $14.00 in a research report on Tuesday, September 25th. Citigroup raised shares of Barrick Gold from a neutral rating to a buy rating and set a $14.00 price objective on the stock in a research report on Tuesday, September 25th. Deutsche Bank set a $15.00 price objective on shares of Barrick Gold and gave the stock a buy rating in a research report on Tuesday, October 2nd. ValuEngine raised shares of Barrick Gold from a hold rating to a buy rating in a research report on Thursday, November 1st. Finally, Jefferies Financial Group downgraded shares of Barrick Gold from a buy rating to a hold rating and reduced their target price for the stock from $17.00 to $11.00 in a research note on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $14.96.

ABX stock traded down $0.19 during mid-day trading on Friday, hitting $12.91. The company had a trading volume of 12,943,721 shares, compared to its average volume of 22,392,850. The firm has a market cap of $15.16 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 15.51 and a beta of -0.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.42 and a current ratio of 2.65. Barrick Gold has a 12 month low of $9.53 and a 12 month high of $15.52.

Barrick Gold (NYSE:ABX) (TSE:ABX) last announced its quarterly earnings data on Wednesday, October 24th. The basic materials company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.80 billion. Barrick Gold had a negative net margin of 8.75% and a positive return on equity of 5.38%. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Analysts forecast that Barrick Gold will post 0.42 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be paid a $0.03 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.93%. Barrick Gold’s payout ratio is 16.00%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its stake in shares of Barrick Gold by 430.1% in the third quarter. Canada Pension Plan Investment Board now owns 3,000,049 shares of the basic materials company’s stock worth $33,241,000 after purchasing an additional 2,434,069 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Barrick Gold by 107.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 749,299 shares of the basic materials company’s stock valued at $7,839,000 after acquiring an additional 388,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Barrick Gold by 6.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 323,726 shares of the basic materials company’s stock valued at $3,579,000 after acquiring an additional 21,013 shares in the last quarter. FIL Ltd purchased a new position in Barrick Gold during the third quarter valued at approximately $6,802,000. Finally, BlackRock Inc. grew its stake in Barrick Gold by 291.7% during the third quarter. BlackRock Inc. now owns 13,090,324 shares of the basic materials company’s stock valued at $145,041,000 after acquiring an additional 9,748,052 shares in the last quarter. Hedge funds and other institutional investors own 52.08% of the company’s stock.

Barrick Gold Company Profile

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.

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Analyst Recommendations for Barrick Gold (NYSE:ABX)

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