Barrick Gold Corp (ABX) Downgraded by Royal Bank Of Canada to “Sector Perform”
Barrick Gold Corp (TSE:ABX) (NYSE:ABX) was downgraded by Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a report released on Wednesday. They currently have a C$18.00 price target on the stock, down from their previous price target of C$21.00. Royal Bank Of Canada’s target price would suggest a potential downside of 3.43% from the stock’s current price.
A number of other equities research analysts also recently commented on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$18.00 price objective on shares of Barrick Gold Corp in a research report on Thursday, July 6th. TD Securities reaffirmed a “hold” rating and issued a C$27.00 price objective on shares of Barrick Gold Corp in a research report on Tuesday, July 4th. Scotiabank reaffirmed a “sector perform” rating and issued a C$30.00 price objective on shares of Barrick Gold Corp in a research report on Tuesday, July 4th. Canaccord Genuity lowered their price objective on Barrick Gold Corp from C$27.50 to C$25.00 and set a “buy” rating for the company in a research report on Friday, October 20th. Finally, CSFB lowered their price objective on Barrick Gold Corp to C$24.00 and set a “neutral” rating for the company in a research report on Thursday, October 26th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Barrick Gold Corp currently has an average rating of “Hold” and a consensus target price of C$23.14.
Barrick Gold Corp (TSE:ABX) traded down 1.13% during trading on Wednesday, reaching $18.43. The company had a trading volume of 1,616,493 shares. Barrick Gold Corp has a 12 month low of $18.40 and a 12 month high of $27.19. The firm’s 50 day moving average is $20.29 and its 200-day moving average is $21.42. The company has a market capitalization of $21.49 billion and a P/E ratio of 9.12.
Barrick Gold Corp Company Profile
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.
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