Barrick Gold Receives a Buy from RBC Capital

By Ryan Adsit

In a report released today, Stephen Walker from RBC Capital reiterated a Buy rating on Barrick Gold (NYSE: ABX), with a price target of $23. The company’s shares opened today at $16.47.

According to TipRanks.com, Walker is a 3-star analyst with an average return of 1.5% and a 47.2% success rate. Walker covers the Basic Materials sector, focusing on stocks such as Wheaton Precious Metals Corp, Newmont Mining Corporation, and Novagold Resources Inc New.

Currently, the analyst consensus on Barrick Gold is Moderate Buy and the average price target is $22.03, representing a 33.8% upside.

In a report issued on May 19, Jefferies also reiterated a Buy rating on the stock with a $24 price target.

Barrick Gold’s market cap is currently $19.14B and has a P/E ratio of 13.57. The company has a book value ratio of 2.2399.

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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. The firm produces gold mines in Canada, U.S., Peru, Argentina and the Dominican Republic and produces copper mine in Zambia. It operates through the following units: Cortez, Goldstrike, Lagunas Norte, Pueblo Viejo, and Valedero. The company was founded by Peter D. Munk in 1983 and is headquartered in Toronto, Canada.