New Buy Rating for Barrick Gold (GOLD), the Energy Giant

RBC Capital analyst Josh Wolfson maintained a Buy rating on Barrick Gold (GOLD) yesterday and set a price target of $34.00. The company’s shares closed last Tuesday at $26.25.

According to, Wolfson is a 4-star analyst with an average return of 8.6% and a 61.0% success rate. Wolfson covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals, Kirkland Lake Gold, and Newmont Mining.

Currently, the analyst consensus on Barrick Gold is a Moderate Buy with an average price target of $31.75.

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Based on Barrick Gold’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.72 billion and net profit of $400 million. In comparison, last year the company earned revenue of $2.09 billion and had a net profit of $111 million.

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.

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