Barrick Gold Inc. (ABX:TSX) Veritas Investment Research Upgrades to a “Buy”

Analyst Ratings Coverage

Veritas Investment Research (Rank #165) on  Friday June 2nd issued a research report and upgraded Barrick Gold to a “Buy” rating from a “Hold”.

The upgrade on Barrick Gold  is based on forecasted strong earnings and revenue growth, indicating a positive outlook for its business operations.

The upgrade is also based on a positive outlook for the gold industry as a whole. Veritas Investment Research believes that gold prices will continue to rise and that the industry will benefit from favorable market conditions.

A bullish view on the sector could lead to a more positive stance on individual gold companies like Barrick Gold.

Veritas Investment Research’s upgrade of Barrick Gold to a Buy rating suggests that they have a more positive outlook on the company’s prospects. This is influenced by various factors such as improved financial performance, a favorable industry outlook.

ABX:CA Ratings by Stock Target Advisor

ABX Stock Forecast & Analysis

Based on the Barrick Gold Corp stock forecast from 13 analysts, the average analyst target price for Barrick Gold Corp is CAD 28.35 over the next 12 months. This indicates that, on average, analysts expect the stock to appreciate in value and reach CAD 28.35 within the next year.

The average analyst rating for Barrick Gold Corp is a “Strong Buy”, suggesting that analysts are generally optimistic about the company’s prospects. This positive sentiment may be driven by factors such as the company’s financial performance, growth potential, or positive industry trends.

Stock Target Advisor’s own stock analysis of Barrick Gold Corp is Slightly Bearish. This analysis takes into account multiple factors and indicators to assess the stock’s potential. It is important to note that this analysis may differ from the consensus view of analysts. Stock Target Advisor’s Slightly Bearish outlook could be based on 4 positive signals and 7 negative signals identified through their analysis.

At the last closing, Barrick Gold Corp’s stock price was CAD 23.48. This price reflects the market’s current valuation of the company. Over the past week, the stock price has changed by +0.73%, indicating a slight increase. However, over the past month and the last year, the stock price has experienced declines of -8.78% and -8.85%, respectively.

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