Analysts Offer Insights on Materials Companies: Barrick Gold (ABX) and Apache (APA)


Analysts fell to the sidelines weighing in on Barrick Gold (NYSE:ABX) and Apache (NYSE:APA) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.

Barrick Gold (ABX)

BMO Capital analyst Andrew Kaip reiterated a Hold rating on Barrick Gold yesterday and set a price target of $12.50. The company’s shares opened today at $11.83.

According to TipRanks.com, Kaip is ranked 0 out of 5 stars with an average return of -8.9% and a 25.5% success rate. Kaip covers the Basic Materials sector, focusing on stocks such as Osisko Gold Royalties Ltd, Franco Nev Corp, and Tahoe Resources.

Currently, the analyst consensus on Barrick Gold is a Moderate Buy with an average price target of $14.08, which is a 19.0% upside from current levels. In a report issued on October 4, J.P. Morgan also maintained a Hold rating on the stock with a $14 price target.

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Apache (APA)

In a report issued on October 9, Phillip Jungwirth from BMO Capital reiterated a Hold rating on Apache, with a price target of $45. The company’s shares opened today at $46.12.

According to TipRanks.com, Jungwirth is a 4-star analyst with an average return of 8.2% and a 60.4% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as Continental Resources, Anadarko Petroleum, and Devon Energy Corp.

Currently, the analyst consensus on Apache is a Hold with an average price target of $50, representing an 8.4% upside. In a report issued on September 27, Scotiabank also reiterated a Hold rating on the stock with a $55 price target.

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