Canaccord Genuity Group Issues Pessimistic Forecast for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price cut by equities research analysts at Canaccord Genuity Group from C$80.00 to C$77.00 in a report issued on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price target would suggest a potential upside of 15.69% from the company’s previous close.

ABX has been the subject of several other reports. Cormark lifted their target price on Barrick Gold from C$66.00 to C$78.00 in a research report on Tuesday, November 25th. JPMorgan Chase & Co. set a C$92.00 target price on shares of Barrick Gold and gave the stock an “overweight” rating in a research note on Thursday, January 29th. BNP Paribas Exane upgraded shares of Barrick Gold to a “strong-buy” rating in a report on Friday, December 5th. Citigroup upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. Finally, DZ Bank raised Barrick Gold to a “strong-buy” rating in a research report on Monday, January 19th. Six research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold currently has a consensus rating of “Buy” and a consensus price target of C$74.38.

Barrick Gold Trading Up 0.6%

Shares of TSE ABX opened at C$66.56 on Wednesday. The company has a current ratio of 2.65, a quick ratio of 2.62 and a debt-to-equity ratio of 19.83. The stock has a market capitalization of C$111.51 billion, a PE ratio of 22.72, a PEG ratio of 2.34 and a beta of 1.47. Barrick Gold has a twelve month low of C$24.28 and a twelve month high of C$74.00. The stock has a fifty day simple moving average of C$64.57 and a 200-day simple moving average of C$51.69.

Insider Transactions at Barrick Gold

In other Barrick Gold news, insider Graham Patrick Shuttleworth sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of C$64.72, for a total value of C$6,472,000.00. Following the completion of the sale, the insider owned 487,252 shares in the company, valued at approximately C$31,534,949.44. The trade was a 17.03% decrease in their ownership of the stock. Also, Director Pekka Juhani Vauramo purchased 12,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average price of C$65.41 per share, with a total value of C$811,084.00. Following the purchase, the director owned 12,400 shares in the company, valued at C$811,084. This trade represents a ∞ increase in their ownership of the stock. 0.60% of the stock is currently owned by insiders.

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.