A Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Analyst Steven Butler from GMP FirstEnergy rated Barrick Gold (ABX) a Hold, setting a C$17.15 price target.
According to TipRanks.com, Butler is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.3% and a 38.1% success rate. Butler covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Barrick Gold Corporation, and Kirkland Lake Gold Ltd.
The word on The Street in general, suggests a Hold analyst consensus rating for Barrick Gold with a C$18.55 average price target, a 12.6% upside from current levels. In a report issued on February 15, Deutsche Bank also downgraded the stock to Hold.
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Based on Barrick Gold’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of C$1.58 billion. In comparison, last year the company had a GAAP net loss of C$399 million.
Barrick Gold Corp. engages in the production and sale of gold and copper, as well as related activities such as exploration and mine development. It operates through the following segments: Barrick Nevada, Veladero, Pueblo Viejo, Lagunas Norte, Turquoise Ridge, Acacia, and Pascua-Lama.
The company’s shares closed on Wednesday at C$16.47.
