Barrick Gold (TSE:ABX – Get Free Report) (NYSE:ABX) had its price target raised by Eight Capital from C$36.00 to C$38.00, indicating a potential upside of 50.50% from the stock’s current price, as reported by BayStreet.CA.
Analyst Ratings and Target Prices
Several other analysts also updated their price targets for ABX recently. Stifel Nicolaus and Veritas Investment Research raised their price targets, while Canaccord Genuity Group, National Bank Financial, and Sanford C. Bernstein reiterated positive ratings for the stock. This overall positive sentiment is reflected in the consensus rating of “Moderate Buy” and an average target price of C$29.91 for Barrick Gold.
Check Out Our Latest Stock Report on ABX
Barrick Gold’s Financial Performance
On May 1st, Barrick Gold reported earnings per share of C$0.26 for the quarter, exceeding analysts’ expectations. The company also announced revenue figures that were slightly below estimates. Despite this, Barrick Gold’s net margin and return on equity remain strong. Analysts anticipate earnings of 1.4494519 per share for the current fiscal year.
Insider Transactions
Director Andrew James Quinn recently sold 36,000 shares of Barrick Gold stock. This insider transaction highlights a confident stance towards the company’s performance. Insiders now own 0.61% of Barrick Gold’s shares.
About Barrick Gold
Barrick Gold Corporation operates in the exploration, development, production, and sale of gold and copper properties globally. The company’s diverse portfolio includes interests in producing mines in multiple countries, showcasing its international presence and resource diversification.
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