Canaccord Genuity Boosts Barrick Gold (TSE:ABX) Price Target to C$21.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target lifted by Canaccord Genuity from C$19.50 to C$21.00 in a research report sent to investors on Friday morning, BayStreet.CA reports.

Separately, BMO Capital Markets restated a hold rating on shares of Russel Metals in a research report on Thursday, July 4th.

TSE:ABX opened at C$22.50 on Friday. Barrick Gold has a 12-month low of C$12.54 and a 12-month high of C$22.84. The firm has a market cap of $38.32 billion and a price-to-earnings ratio of -18.46. The company has a quick ratio of 1.28, a current ratio of 2.46 and a debt-to-equity ratio of 31.73. The firm’s 50 day moving average is C$19.83.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported C$0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.13 by C$0.02. The company had revenue of C$2.78 billion for the quarter, compared to analyst estimates of C$2.89 billion. As a group, sell-side analysts forecast that Barrick Gold will post 0.4900001 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in ABX. First Financial Corp IN bought a new stake in Barrick Gold during the 1st quarter valued at $28,000. Legacy Bridge LLC bought a new stake in Barrick Gold during the 1st quarter valued at $28,000. McIlrath & Eck LLC raised its stake in Barrick Gold by 624.7% during the 1st quarter. McIlrath & Eck LLC now owns 2,174 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 1,874 shares in the last quarter. Cornerstone Advisors Inc. raised its stake in Barrick Gold by 48.7% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,433 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 797 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in Barrick Gold by 152.8% during the 1st quarter. Synovus Financial Corp now owns 2,445 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 1,478 shares in the last quarter.

About Barrick Gold

Barrick Gold Corporation explores for and develops mineral properties. The company primarily explores for gold, copper, and silver deposits. It holds a 50% interest in the Veladero, a gold mine located in Argentina; 50% interest in the Kalgoorlie gold mine located in Australia; 95% interest in the Porgera 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 copper mine located in Saudi Arabia.

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