Barclays Issues Positive Forecast for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective hoisted by equities research analysts at Barclays from C$55.00 to C$58.00 in a research note issued on Thursday,BayStreet.CA reports. Barclays‘s target price would suggest a potential upside of 1.93% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Raymond James Financial decreased their target price on shares of Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating for the company in a research note on Tuesday. ATB Cormark Capital Markets dropped their price target on shares of Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating on the stock in a research note on Tuesday. Sanford C. Bernstein boosted their price objective on shares of Barrick Gold from C$86.00 to C$91.00 in a report on Monday, April 20th. Citigroup decreased their price objective on shares of Barrick Gold from C$48.00 to C$41.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. lowered their target price on Barrick Gold from C$91.00 to C$79.00 in a research note on Thursday, April 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$68.00.

Barrick Gold Stock Down 1.0%

TSE ABX traded down C$0.57 on Thursday, reaching C$56.90. The company had a trading volume of 1,801,049 shares, compared to its average volume of 5,593,757. The firm has a market capitalization of C$95.34 billion, a PE ratio of 15.72, a P/E/G ratio of 2.34 and a beta of 1.60. Barrick Gold has a 1 year low of C$32.34 and a 1 year high of C$74.00. The firm has a 50-day moving average of C$53.86 and a 200-day moving average of C$57.91. 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 (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 earnings per share (EPS) for the quarter. The company had revenue of C$6.06 billion during the quarter. Barrick Gold had a net margin of 32.14% and a return on equity of 23.58%. On average, equities research analysts anticipate that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 acquired at an average price of C$55.06 per share, for a total transaction 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 company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of C$56.85, for a total transaction of C$537,403.05. Following the completion of the sale, the director directly owned 334,176 shares in the company, valued at C$18,997,905.60. This represents a 2.75% decrease in their ownership of the stock. Insiders have sold 134,422 shares of company stock valued at $7,695,879 in the last three months. Corporate insiders own 0.60% of the company’s stock.

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.