National Bank analyst Mike Parkin maintained a Hold rating on Barrick Gold (GOLD) today and set a price target of C$45.00. The company’s shares closed last Wednesday at $28.52, close to its 52-week high of $28.84.
According to TipRanks.com, Parkin is a 1-star analyst with an average return of -2.3% and a 37.2% success rate. Parkin covers the Basic Materials sector, focusing on stocks such as Kirkland Lake Gold, Newmont Mining, and Kinross Gold.
Currently, the analyst consensus on Barrick Gold is a Moderate Buy with an average price target of $29.94, representing a 4.5% upside. In a report issued on July 16, Canaccord Genuity also downgraded the stock to Hold with a C$40.00 price target.
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The company has a one-year high of $28.84 and a one-year low of $12.65. Currently, Barrick Gold has an average volume of 17.21M.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GOLD in relation to earlier this year.
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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.