Barrick Gold (ABX) Gets a Hold Rating from Canaccord Genuity


Barrick Gold (ABX) has received a rating update from a Wall Street analyst today. Analyst Carey MacRury from Canaccord Genuity rated Barrick Gold (ABX) a Hold, setting a C$21 price target.

According to TipRanks.com, MacRury is a top 100 analyst with an average return of 18.0% and a 80.0% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Osisko Gold Royalties Ltd, and Barrick Gold Corporation.

Barrick Gold has an analyst consensus of Hold, with a price target consensus of C$19.17, representing a -15.0% downside. In a report issued on July 16, Barclays also downgraded the stock to Hold with a C$18 price target.

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Based on Barrick Gold’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$148 million. In comparison, last year the company had a GAAP net loss of C$121 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 Friday at C$22.55, close to its 52-week high of C$22.64.

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