Scotia Capital forecast 30 Percent Upside on Barrick Gold (ABX:TSX)

Barrick Gold

Analyst Ratings Coverage

Scotia Capital (Rank#9) on Friday June 16th issued a research report on Barrick Gold’s stock, and maintained the 12 month  target price forecast for the share price. The analyst has also reiterated their “Outperform” rating on the company, and keeps their Bullish  optimism intact about Barrick Gold’s future performance and growth prospects.

Scotia Capital maintaining of its previously set 12-month target price forecast for Barrick Gold’s share price, represents the expected value of the stock over the next year, based on various factors such as market conditions, industry trends, and company-specific fundamentals. By reiterating this target price forecast, Scotia Capital indicates its confidence in the stability and growth potential of Barrick Gold’s stock.

Moreover, Scotia Capital’s analyst, responsible for the research report, reaffirmed their “Outperform” rating on Barrick Gold. This rating suggests that the analyst believes Barrick Gold’s stock will outperform the overall market or its industry peers. The analyst’s positive assessment of Barrick Gold’s prospects indicates that they expect the company to deliver superior financial performance compared to its competitors.

Scotia Capital’s bullish optimism regarding Barrick Gold’s future performance and growth prospects also remains intact. This sentiment reflects a positive outlook on the company’s ability to generate profits, expand its market share, and capitalize on favorable industry dynamics. The analyst’s confidence in Barrick Gold’s potential for growth serves as a reassuring signal to investors, potentially attracting more interest in the stock.

ABX Stock Forecast & Analysis

According to the forecast compiled from the analysis of 14 different analysts, the average target price for Barrick Gold Corp over the next 12 months is estimated to be CAD 28.58. This target price serves as an indicator of the analysts’ expectations regarding the future value of the stock. It is derived from a thorough evaluation of various factors, including market conditions, industry trends, and the company’s specific performance metrics. The average analyst rating for Barrick Gold Corp is reported as “Strong Buy,” which suggests a high level of confidence among analysts in the company’s future prospects and potential for growth.

Stock Target Advisor’s a platform specializing in stock analysis, has a slightly bearish outlook on Barrick Gold Corp. Their analysis is based on a combination of signals, including both positive and negative factors. Out of the signals considered, four are positive, while seven are negative, resulting in a slightly bearish sentiment. While this analysis provides a different perspective, it is important to consider multiple viewpoints when making investment decisions.

As of the last closing, Barrick Gold Corp’s stock price was recorded at CAD 21.79. This represents the value at which the stock traded on the most recent trading day. It’s important to note that stock prices can fluctuate throughout the trading day and are influenced by a multitude of factors such as market demand, investor sentiment, and company-specific news.

Examining the stock’s recent performance, Barrick Gold Corp has experienced a decline of -4.72% over the past week, -16.35% over the past month, and -13.57% over the last year. These figures highlight the price movement and volatility of the stock over different time periods. It’s crucial to consider these trends and evaluate the underlying factors that contribute to them when assessing the investment potential of Barrick Gold Corp.

 

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