Barrick Gold (TSE:ABX) Cut to Sector Perform at ATB Cormark Capital Markets

Barrick Gold (TSE:ABX) (NYSE:ABX) was downgraded by investment analysts at ATB Cormark Capital Markets from an “outperform” rating to a “sector perform” rating in a report issued on Tuesday,BayStreet.CA reports. They currently have a C$75.00 price objective on the basic materials company’s stock, up from their previous price objective of C$70.00. ATB Cormark Capital Markets’ price target indicates a potential upside of 31.30% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus boosted their target price on shares of Barrick Gold from C$65.00 to C$95.00 and gave the company a “buy” rating in a research report on Tuesday, February 10th. JPMorgan Chase & Co. boosted their target price on shares of Barrick Gold from C$89.00 to C$91.00 in a research note on Wednesday, February 25th. National Bank Financial cut their target price on shares of Barrick Gold from C$82.50 to C$75.00 and set an “outperform” rating for the company in a research note on Tuesday, February 10th. DZ Bank upgraded shares of Barrick Gold to a “strong-buy” rating in a research report on Monday, January 19th. Finally, Sanford C. Bernstein boosted their price target on shares of Barrick Gold from C$84.00 to C$86.00 in a research report on Friday, February 27th. Five equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$77.25.

Barrick Gold Stock Performance

TSE ABX traded down C$0.10 on Tuesday, reaching C$57.12. 1,367,554 shares of the company’s stock traded hands, compared to its average volume of 6,818,502. The firm has a market cap of C$95.70 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.34 and a beta of 1.61. The stock has a 50 day moving average price of C$61.74 and a 200-day moving average price of C$57.27. Barrick Gold has a fifty-two week low of C$24.29 and a fifty-two week high of C$74.00. The company has a debt-to-equity ratio of 17.89, a quick ratio of 2.62 and a current ratio of 2.92.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its earnings results on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share (EPS) for the quarter. The company had revenue of C$8.01 billion during the quarter. Barrick Gold had a net margin of 29.39% and a return on equity of 19.79%. Equities research analysts predict that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Insider Transactions at Barrick Gold

In other Barrick Gold news, insider Graham Patrick Shuttleworth sold 100,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of C$64.72, for a total value of C$6,472,000.00. Following the transaction, the insider directly owned 487,252 shares in the company, valued at C$31,534,949.44. The trade was a 17.03% decrease in their position. Also, Director Pekka Juhani Vauramo purchased 12,400 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was purchased at an average cost of C$65.41 per share, with a total value of C$811,084.00. Following the purchase, the director owned 12,400 shares in the company, valued at approximately C$811,084. This trade represents a ? increase in their ownership of the stock. Insiders own 0.60% of the company’s stock.

About Barrick Gold

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.