Barrick Gold (TSE:ABX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective boosted by research analysts at JPMorgan Chase & Co. from C$89.00 to C$91.00 in a research note issued on Wednesday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 32.11% from the company’s previous close.

Several other research analysts have also issued reports on ABX. ATB Cormark Capital Markets reduced their price target on Barrick Gold from C$100.00 to C$94.00 and set a “moderate buy” rating on the stock in a research report on Monday, February 9th. Canaccord Genuity Group reduced their target price on Barrick Gold from C$80.00 to C$77.00 in a report on Wednesday, February 18th. National Bank Financial decreased their target price on Barrick Gold from C$82.50 to C$75.00 and set an “outperform” rating for the company in a research report on Tuesday, February 10th. Cormark increased their price target on shares of Barrick Gold from C$66.00 to C$78.00 in a research report on Tuesday, November 25th. Finally, DZ Bank upgraded shares of Barrick Gold to a “strong-buy” rating in a report on Monday, January 19th. Six investment 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, Barrick Gold presently has a consensus rating of “Buy” and an average target price of C$74.25.

Barrick Gold Stock Up 1.1%

Shares of TSE:ABX opened at C$68.88 on Wednesday. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62. The stock has a market cap of C$115.40 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 2.34 and a beta of 1.47. The company has a 50 day moving average of C$65.36 and a 200-day moving average of C$52.96. Barrick Gold has a one year low of C$24.28 and a one year high of C$74.00.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share (EPS) for the quarter. Barrick Gold had a net margin of 13.19% and a return on equity of 6.90%. The firm had revenue of C$8.01 billion for the quarter. On average, sell-side analysts forecast that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insider Buying and Selling

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

About Barrick Gold

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.