Barrick Gold (TSE:ABX) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective boosted by research analysts at Canaccord Genuity Group from C$68.00 to C$70.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Canaccord Genuity Group’s price target would indicate a potential upside of 21.91% from the stock’s current price.

Several other research firms have also recently issued reports on ABX. Scotiabank raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. BMO Capital Markets boosted their target price on Barrick Gold from C$37.00 to C$41.00 in a research report on Monday, September 22nd. Stifel Nicolaus upped their target price on Barrick Gold from C$46.00 to C$65.00 in a report on Monday, October 20th. Cibc World Mkts raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, National Bank Financial raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Six investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$52.13.

Barrick Gold Trading Down 3.1%

Barrick Gold stock opened at C$57.42 on Monday. Barrick Gold has a 52-week low of C$21.73 and a 52-week high of C$60.14. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. The firm has a market capitalization of C$96.89 billion, a price-to-earnings ratio of 27.61, a PEG ratio of 2.34 and a beta of 1.18. The firm has a 50-day moving average price of C$48.93 and a two-hundred day moving average price of C$37.80.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Monday, November 10th. The basic materials company reported C$0.58 EPS for the quarter. The company had revenue of C$3.41 billion for the quarter. Barrick Gold had a net margin of 13.19% and a return on equity of 6.90%. Sell-side analysts expect that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insider Activity at Barrick Gold

In other Barrick Gold news, insider Grant Bill Beringer sold 38,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of C$41.13, for a total value of C$1,562,959.00. Following the completion of the sale, the insider owned 107,047 shares in the company, valued at C$4,402,896.63. This represents a 26.20% decrease in their position. Also, insider Rousseau Jooste sold 3,000 shares of Barrick Gold stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of C$40.70, for a total transaction of C$122,112.00. Following the sale, the insider directly owned 58,237 shares of the company’s stock, valued at C$2,370,478.85. This trade represents a 4.90% decrease in their position. In the last three months, insiders have sold 62,990 shares of company stock valued at $2,580,075. 0.60% of the stock is owned by company insiders.

About Barrick Gold

Barrick Gold Corp is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.