National Bankshares Increases Barrick Gold (TSE:ABX) Price Target to C$77.50

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price boosted by investment analysts at National Bankshares from C$65.00 to C$77.50 in a report released on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the basic materials company’s stock. National Bankshares’ price objective suggests a potential upside of 34.18% from the company’s previous close.

A number of other analysts have also recently commented on ABX. BMO Capital Markets upped their price target on shares of Barrick Gold from C$37.00 to C$41.00 in a research note on Monday, September 22nd. Canaccord Genuity Group boosted their target price on shares of Barrick Gold from C$68.00 to C$70.00 in a report on Monday, December 1st. BNP Paribas upgraded Barrick Gold to a “strong-buy” rating in a research report on Friday, December 5th. Scotiabank raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Finally, Stifel Nicolaus lifted their price target on Barrick Gold from C$46.00 to C$65.00 in a research report on Monday, October 20th. Seven research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$53.69.

Barrick Gold Stock Up 1.9%

ABX stock opened at C$57.76 on Tuesday. The stock has a fifty day moving average of C$50.11 and a 200-day moving average of C$39.01. Barrick Gold has a fifty-two week low of C$21.73 and a fifty-two week high of C$60.14. The company has a market capitalization of C$98.54 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 2.34 and a beta of 1.28. The company has a debt-to-equity ratio of 19.83, a quick ratio of 2.62 and a current ratio of 2.65.

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

Insiders Place Their Bets

In related news, insider Rousseau Jooste sold 3,000 shares of Barrick Gold stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of C$40.70, for a total transaction of C$122,112.00. Following the completion of the sale, the insider owned 58,237 shares of the company’s stock, valued at approximately C$2,370,478.85. This trade represents a 4.90% decrease in their ownership of the stock. Also, insider Poupak Bahamin sold 8,402 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of C$41.21, for a total value of C$346,269.11. Following the completion of the sale, the insider directly owned 29,400 shares in the company, valued at approximately C$1,211,653.38. The trade was a 22.23% decrease in their position. Insiders sold a total of 62,990 shares of company stock worth $2,580,075 over the last three months. Corporate insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

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.