Analysts Set Barrick Gold Co. (TSE:ABX) Price Target at C$70.23

by · The Cerbat Gem

Barrick Gold Co. (TSE:ABX – Get Free Report) (NYSE:ABX) has been given a consensus recommendation of “Buy” by the thirteen ratings firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and four have issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$70.23.

ABX has been the subject of several research reports. BMO Capital Markets increased their target price on shares of Barrick Gold from C$55.00 to C$65.00 in a research note on Wednesday, April 22nd. Citigroup lowered their price target on Barrick Gold from C$48.00 to C$41.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. Royal Bank Of Canada cut their price target on Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. ATB Cormark Capital Markets downgraded Barrick Gold from a “moderate buy” rating to a “hold” rating and raised their price objective for the stock from C$70.00 to C$75.00 in a research report on Tuesday, April 7th. Finally, Sanford C. Bernstein raised their price objective on Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th.

Read Our Latest Report on ABX

Barrick Gold Trading Down 2.5%

Shares of ABX stock opened at C$51.45 on Wednesday. The firm has a market capitalization of C$86.20 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60. Barrick Gold has a 1 year low of C$28.99 and a 1 year high of C$74.00. The firm’s fifty day simple moving average is C$54.15 and its 200 day simple moving average is C$58.66. The company has a current ratio of 3.06, a quick ratio of 2.62 and a debt-to-equity ratio of 17.29.

Barrick Gold (TSE:ABX – Get Free Report) (NYSE:ABX) last issued its quarterly earnings results on Monday, May 11th. The basic materials company reported C$1.36 earnings per share for the quarter. The firm had revenue of C$5.81 billion during the quarter. Barrick Gold had a net margin of 32.14% and a return on equity of 23.58%. As a group, sell-side analysts predict that Barrick Gold will post 2.2422764 EPS for the current year.

Insiders Place Their Bets

In other Barrick Gold news, Director Mark Francis Hill sold 88,000 shares of Barrick Gold stock in a transaction on Thursday, May 28th. The shares were sold at an average price of C$57.85, for a total transaction of C$5,090,800.00. Following the sale, the director owned 380,598 shares in the company, valued at C$22,017,594.30. The trade was a 18.78% decrease in their ownership of the stock. Also, Director Robert Ananda Paul Samek purchased 10,000 shares of the stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of C$55.06 per share, for a total transaction of C$550,600.00. Following the acquisition, the director directly owned 18,900 shares in the company, valued at approximately C$1,040,634. This trade represents a 112.36% increase in their ownership of the stock. Insiders sold 134,422 shares of company stock valued at $7,695,879 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

About Barrick Gold

(Get Free Report)

Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry – including six of the world’s Tier One gold mines -Barrick’s operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth.

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