In a report issued on January 14, Carey MacRury from Canaccord Genuity assigned a Buy rating to Barrick Gold (GOLD), with a price target of C$42.00. The company’s shares closed last Wednesday at $22.51.
According to TipRanks.com, MacRury is a 5-star analyst with an average return of 19.7% and a 63.8% success rate. MacRury covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Golden Star Resources, and Kirkland Lake Gold.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Barrick Gold with a $31.59 average price target, which is a 39.9% upside from current levels. In a report issued on January 13, Bernstein also initiated coverage with a Buy rating on the stock with a C$35.50 price target.
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Based on Barrick Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $3.54 billion and net profit of $882 million. In comparison, last year the company earned revenue of $2.68 billion and had a net profit of $2.28 billion.
Based on the recent corporate insider activity of 35 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.
