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

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

ABX has been the topic of several recent analyst reports. Sanford C. Bernstein lifted their price objective on shares of Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th. Barclays reduced their price target on shares of Barrick Gold from C$56.00 to C$55.00 in a report on Thursday, July 16th. ATB Cormark Capital Markets cut shares of Barrick Gold from a “moderate buy” rating to a “hold” rating and boosted their price target for the stock from C$70.00 to C$75.00 in a research note on Tuesday, April 7th. National Bank Financial decreased their price target on shares of Barrick Gold from C$75.00 to C$67.50 and set an “outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Barrick Gold from C$91.00 to C$79.00 in a report on Thursday, April 23rd.

Insider Activity

In other news, Director Robert Ananda Paul Samek purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of C$55.06 per share, with a total value of C$550,600.00. Following the completion of the purchase, the director owned 18,900 shares in the company, valued at approximately C$1,040,634. This represents a 112.36% increase in their ownership of the stock. Also, Director Mark Francis Hill sold 9,453 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of C$56.85, for a total value of C$537,403.05. Following the transaction, the director owned 334,176 shares of the company’s stock, valued at C$18,997,905.60. This represents a 2.75% decrease in their position. Insiders sold 134,422 shares of company stock worth $7,695,879 over the last ninety days. Insiders own 0.60% of the company’s stock.

Barrick Gold Price Performance

Shares of TSE:ABX opened at C$51.45 on Wednesday. The company has a debt-to-equity ratio of 17.29, a current ratio of 3.06 and a quick ratio of 2.62. Barrick Gold has a 1-year low of C$28.99 and a 1-year high of C$74.00. The company has a market capitalization of C$86.20 billion, a P/E ratio of 14.21, a P/E/G ratio of 2.34 and a beta of 1.60. The firm’s 50 day simple moving average is C$54.15 and its two-hundred day simple moving average is C$58.59.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data on Monday, May 11th. The basic materials company reported C$1.36 earnings per share (EPS) 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%. Research analysts expect that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Barrick Gold Company Profile

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.