Merrill Lynch Keeps a Buy Rating on Barrick Gold (GOLD)

By Carrie Williams

Merrill Lynch analyst Michael Jalonen reiterated a Buy rating on Barrick Gold (GOLDResearch Report) yesterday and set a price target of $22.00. The company’s shares closed last Monday at $19.26, close to its 52-week high of $20.07.

Jalonen has an average return of 5.5% when recommending Barrick Gold.

According to TipRanks.com, Jalonen is ranked #5165 out of 5913 analysts.

Barrick Gold has an analyst consensus of Strong Buy, with a price target consensus of $20.94, implying a 10.2% upside from current levels. In a report issued on February 5, RBC Capital also maintained a Buy rating on the stock with a $20.00 price target.

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The company has a one-year high of $20.07 and a one-year low of $11.65. Currently, Barrick Gold has an average volume of 10.11M.

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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.