Barrick Gold (TSE:ABX) Trading 3.6% Higher – Here’s What Happened

by · The Cerbat Gem

Shares of Barrick Gold Co. (TSE:ABX – Get Free Report) (NYSE:ABX) traded up 3.6% on Wednesday . The company traded as high as C$26.37 and last traded at C$25.87. 1,587,683 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 3,469,223 shares. The stock had previously closed at C$24.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ABX shares. Royal Bank of Canada upped their target price on shares of Barrick Gold to C$19.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. TD Cowen reiterated a “buy” rating and issued a C$36.00 price objective on shares of Barrick Gold in a report on Tuesday, January 14th. Scotiabank cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. UBS Group raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, National Bankshares upped their target price on Barrick Gold from C$27.00 to C$33.00 and gave the company a “sector perform” rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$32.50.

View Our Latest Stock Report on ABX

Barrick Gold Trading Up 6.4 %

The business’s 50-day simple moving average is C$26.32 and its two-hundred day simple moving average is C$25.37. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. The firm has a market capitalization of C$34.79 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.34 and a beta of 0.48.

Insider Buying and Selling at Barrick Gold

In other news, Director Dennis Mark Bristow bought 230,872 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was purchased at an average price of C$25.71 per share, for a total transaction of C$5,936,042.34. Also, Senior Officer Poupak Bahamin sold 17,633 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of C$25.96, for a total value of C$457,781.77. 0.60% of the stock is currently owned by corporate insiders.

About Barrick Gold

(Get Free Report)

Barrick Gold Corp is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.

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