Barrick Gold (GOLD) Received its Third Buy in a Row

After RBC Capital and Stifel Nicolaus gave Barrick Gold (NYSE: GOLD) a Buy rating last month, the company received another Buy, this time from TD Securities. Analyst TD Newcrest reiterated a Buy rating on Barrick Gold yesterday and set a price target of C$30.00. The company’s shares closed last Wednesday at $19.50.

Currently, the analyst consensus on Barrick Gold is a Strong Buy with an average price target of $30.29, which is a 56.1% upside from current levels. In a report issued on February 18, Canaccord Genuity also maintained a Buy rating on the stock with a C$40.00 price target.

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Based on Barrick Gold’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.28 billion and net profit of $685 million. In comparison, last year the company earned revenue of $2.88 billion and had a net profit of $1.39 billion.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is neutral on the stock.

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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 was founded by Peter D. Munk in 1983 and is headquartered in Toronto, Canada.

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