Barrick Gold (ABX) Price Target Raised to C$27.00 at Canaccord Genuity

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target lifted by equities researchers at Canaccord Genuity from C$24.50 to C$27.00 in a report released on Friday. Canaccord Genuity’s price target would indicate a potential upside of 50.08% from the stock’s current price.

A number of other equities analysts have also recently issued reports on ABX. Royal Bank of Canada cut shares of Barrick Gold from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$21.00 to C$18.00 in a research note on Wednesday, November 1st. CSFB dropped their price target on shares of Barrick Gold to C$24.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. BMO Capital Markets reiterated a “market perform” rating and issued a C$18.00 price target on shares of Barrick Gold in a research note on Friday, October 13th. Desjardins reiterated a “hold” rating on shares of Barrick Gold in a research note on Monday, December 11th. Finally, Eight Capital reiterated a “neutral” rating on shares of Barrick Gold in a research note on Thursday, November 16th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of C$23.17.

Shares of Barrick Gold (ABX) traded up C$0.28 during trading on Friday, reaching C$17.99. 2,988,058 shares of the company were exchanged, compared to its average volume of 2,612,765. The company has a market cap of $20,980.00, a PE ratio of 7.75 and a beta of -0.88. Barrick Gold has a 52 week low of C$17.07 and a 52 week high of C$27.19.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Wednesday, October 25th. The company reported C$0.21 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of C$0.21. Barrick Gold had a negative net margin of 2.16% and a negative return on equity of 0.46%.

In related news, insider Richard James Elton Williams bought 27,302 shares of the stock in a transaction on Wednesday, November 22nd. The shares were acquired at an average price of C$17.97 per share, for a total transaction of C$490,616.94. Also, Director Kelvin Paul Michael Dushnisky bought 56,733 shares of the stock in a transaction on Wednesday, November 22nd. The shares were bought at an average price of C$17.97 per share, for a total transaction of C$1,019,492.01. Insiders have acquired a total of 91,535 shares of company stock worth $1,617,559 in the last 90 days.

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Barrick Gold Company Profile

Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.

Analyst Recommendations for Barrick Gold (TSE:ABX)

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