Analyst Ratings Coverage:
STA Research (Rank#26) on Friday Oct 6th, issued a research report on Barrick Gold, in which showed the research firm lowered the 12 month target forecast to $26 from $30 per share. STA Research maintained the “Strong Buy” rating on the stock.
Veritas Investment Research (Rank#151) on Thursday Oct 5th, downgraded the rating on Barrick Gold to “Reduce” from a “Buy” rating.
ABX Stock Analysis & Forecast
- Analyst Target Price: The average analyst target price for Barrick Gold Corp is CAD 30.22 over the next 12 months. This figure is derived from assessments made by 14 financial analysts who specialize in analyzing stocks within the mining sector. Analysts use various methods, including fundamental analysis and market trends, to arrive at this target price. It represents the consensus expectation for where they believe the stock will be trading in the coming year.
- Average Analyst Rating: Barrick Gold Corp’s average analyst rating is “Strong Buy.” This rating suggests a high level of confidence among analysts regarding the company’s future performance. A “Strong Buy” rating typically implies that analysts believe the stock is undervalued and has significant potential for growth. Investors often take these ratings into account when making investment decisions.
- Stock Analysis: Stock Target Advisor, an independent analysis service, provides its own perspective on Barrick Gold Corp’s stock. Their analysis currently leans “Slightly Bearish.” This rating implies a cautious outlook on the stock’s performance. It suggests that while there may be some positive signals, there are also several negative factors to consider.
- Positive and Negative Signals: The Slightly Bearish rating is based on a breakdown of 5 positive signals and 9 negative signals. Positive signals could include factors like strong financial performance, positive news, or favorable industry conditions. Conversely, negative signals may include concerns such as high debt levels, declining profitability, or industry headwinds. Investors should consider these signals in their decision-making process.
- Recent Stock Performance: As of the last closing, Barrick Gold Corp’s stock was priced at CAD 19.71. This provides the most recent valuation of the stock. It’s essential to note that the current market price may not always align with the target price set by analysts. In this case, it’s below the CAD 30.22 target, indicating potential upside if the stock reaches the analyst consensus.
- Price Movements: Over the past week, Barrick Gold Corp’s stock price has increased by +0.25%. However, over the past month, it has decreased by -9.25%, and over the last year, it has declined by -9.04%. These figures reflect the stock’s recent performance. The fluctuations over different timeframes highlight the volatility and potential risks associated with investing in the company’s stock.
Final Stock Analysis
While analysts have a positive outlook with a “Strong Buy” rating and a target price significantly higher than the current price, there are also concerns reflected in the “Slightly Bearish” analysis and recent price declines. Investors should carefully evaluate these factors and conduct their research before making any investment decisions related to Barrick Gold Corp.
