Barrick Gold (TSE:ABX) Price Target Lowered to C$57.00 at ATB Cormark Capital Markets

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price dropped by equities researchers at ATB Cormark Capital Markets from C$60.00 to C$57.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. ATB Cormark Capital Markets’ price target suggests a potential upside of 1.50% from the company’s previous close.

ABX has been the topic of a number of other research reports. Royal Bank Of Canada dropped their target price on Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. National Bank Financial boosted their price target on Barrick Gold from C$67.50 to C$70.00 and gave the stock an “outperform” rating in a research note on Tuesday. Sanford C. Bernstein upped their price target on shares of Barrick Gold from C$86.00 to C$91.00 in a report on Monday, April 20th. BMO Capital Markets lifted their price objective on Barrick Gold from C$55.00 to C$65.00 in a research report on Wednesday, April 22nd. Finally, Citigroup cut their price target on Barrick Gold from C$48.00 to C$41.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Four analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Barrick Gold presently has a consensus rating of “Buy” and a consensus target price of C$67.75.

Barrick Gold Stock Performance

TSE ABX traded down C$0.87 during trading hours on Tuesday, hitting C$56.16. The company had a trading volume of 1,936,582 shares, compared to its average volume of 5,618,163. The company has a market cap of C$94.10 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60. The company has a debt-to-equity ratio of 17.29, a quick ratio of 2.62 and a current ratio of 3.06. Barrick Gold has a 1-year low of C$31.62 and a 1-year high of C$74.00. The business has a 50 day moving average of C$53.95 and a 200-day moving average of C$58.07.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings results on Monday, August 10th. The basic materials company reported C$1.17 EPS for the quarter. The company had revenue of C$6.06 billion for the quarter. Barrick Gold had a return on equity of 23.58% and a net margin of 32.14%. As a group, equities research analysts expect that Barrick Gold will post 2.2422764 EPS for the current year.

Insiders Place Their Bets

In other Barrick Gold news, Director Robert Ananda Paul Samek acquired 10,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were bought 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 of the company’s stock, valued at C$1,040,634. This trade represents a 112.36% increase in their ownership of the stock. Also, Director Mark Francis Hill sold 88,000 shares of the 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 transaction, the director owned 380,598 shares in the company, valued at C$22,017,594.30. This trade represents a 18.78% decrease in their ownership of the stock. Over the last three months, insiders have sold 134,422 shares of company stock worth $7,695,879. Corporate 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.