Canaccord Genuity reiterated their buy rating on shares of Barrick Gold Co. (NYSE:ABX) in a report issued on Friday morning, Analyst Ratings Network.com reports. Canaccord Genuity currently has a $15.00 target price on the stock, up from their previous target price of $12.00.

A number of institutional investors have modified their holdings of the company. Palo Capital acquired a new position in shares of Barrick Gold during the third quarter valued at $100,000. ING Groep raised its stake in Barrick Gold by 1.5% in the third quarter. ING Groep now owns 523,146 shares of the company’s stock valued at $3,327,000 after buying an additional 7,702 shares in the last quarter. Nordea Investment Management AB raised its stake in Barrick Gold by 96.2% in the fourth quarter. Nordea Investment Management AB now owns 440,926 shares of the company’s stock valued at $3,254,000 after buying an additional 216,194 shares in the last quarter. Creative Planning raised its stake in Barrick Gold by 7.0% in the fourth quarter. Creative Planning now owns 42,216 shares of the company’s stock valued at $312,000 after buying an additional 2,762 shares in the last quarter. Finally, Hollencrest Securities raised its stake in Barrick Gold by 195.4% in the fourth quarter. Hollencrest Securities now owns 100,938 shares of the company’s stock valued at $745,000 after buying an additional 66,764 shares in the last quarter.

ABX has been the subject of a number of other reports. Vetr lowered shares of Barrick Gold from a hold rating to a sell rating and set a $7.55 price objective for the company. in a research note on Wednesday, October 14th. RBC Capital reaffirmed an outperform rating on shares of Barrick Gold in a research note on Monday, October 26th. BMO Capital Markets lowered their price objective on shares of Barrick Gold from $12.00 to $10.00 in a research note on Wednesday, October 7th. Deutsche Bank reaffirmed a buy rating on shares of Barrick Gold in a research note on Tuesday, October 6th. Finally, Sterne Agee CRT raised shares of Barrick Gold from a neutral rating to a buy rating and set a $12.00 price objective for the company in a research note on Friday, January 8th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $11.31.

Shares of Barrick Gold (NYSE:ABX) opened at 8.58 on Friday. Barrick Gold has a one year low of $5.91 and a one year high of $13.70. The stock’s 50 day moving average is $7.74 and its 200-day moving average is $7.48. The stock’s market cap is $9.99 billion.

Barrick Gold (NYSE:ABX) last issued its earnings results on Thursday, October 29th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.32 billion. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. On average, equities analysts forecast that Barrick Gold will post $0.30 EPS for the current year.

Barrick Gold Corporation (NYSE:ABX) is a gold mining company. The Company is engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company operates in segments: eight individual gold mines, Acacia and Pascua-Lama project. The remaining operating segments have been grouped into two other categories: its remaining gold mines and its two copper mines. The Company sells its production in the world market through the distribution channels: gold bullion is sold in the gold spot market; gold and copper concentrate is sold to independent smelting companies, and copper cathode is sold to various manufacturers and traders. The Company has 14 producing gold mines, located in Canada, the United States, Peru, Argentina, Australia, the Dominican Republic and Papua New Guinea. It also holds a 63.9% equity interest in Acacia Mining plc (Acacia) that owns gold mines and exploration properties in Africa.

12 Month Chart for NYSE:ABX

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