Barrick Gold Co. (TSE:ABX) Receives Average Recommendation of “Buy” from Analysts

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have received an average recommendation of “Buy” from the twelve analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and five have given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$76.78.

A number of brokerages have commented on ABX. 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 increased their target price on Barrick Gold from C$72.50 to C$75.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. reduced their target price on Barrick Gold from C$91.00 to C$79.00 in a report on Thursday, April 23rd. Barclays set a C$56.00 target price on Barrick Gold and gave the company an “equal weight” rating in a report on Friday, May 22nd. Finally, BMO Capital Markets increased their target price on Barrick Gold from C$55.00 to C$65.00 in a report on Wednesday, April 22nd.

Insider Activity at Barrick Gold

In related news, Director Robert Ananda Paul Samek purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of C$55.06 per share, with a total value of C$550,600.00. Following the completion of the acquisition, the director owned 18,900 shares in the company, valued at C$1,040,634. This trade represents a 112.36% increase in their ownership of the stock. Also, Director Mark Francis Hill sold 88,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of C$57.85, for a total value of C$5,090,800.00. Following the completion of the sale, the director directly owned 380,598 shares of the company’s stock, valued at approximately C$22,017,594.30. This represents a 18.78% decrease in their position. 0.60% of the stock is currently owned by company insiders.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at C$55.06 on Tuesday. The business has a 50 day simple moving average of C$57.37 and a two-hundred day simple moving average of C$60.37. Barrick Gold has a 12 month low of C$27.15 and a 12 month high of C$74.00. The stock has a market capitalization of C$92.25 billion, a P/E ratio of 15.21, a PEG ratio of 2.34 and a beta of 1.50. The company has a debt-to-equity ratio of 17.29, a current ratio of 3.06 and a quick ratio of 2.62.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Monday, May 11th. The basic materials company reported C$1.36 EPS for the quarter. Barrick Gold had a return on equity of 23.48% and a net margin of 32.04%.The business had revenue of C$5.81 billion during the quarter. As a group, analysts predict that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

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.