Barrick Gold (TSE:ABX) Price Target Cut to C$49.00 by Analysts at Royal Bank Of Canada

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target reduced by Royal Bank Of Canada from C$51.00 to C$49.00 in a research note released on Thursday,BayStreet.CA reports. They currently have an outperform rating on the basic materials company’s stock.

A number of other analysts have also recently commented on ABX. BMO Capital Markets lifted their target price on Barrick Gold from C$55.00 to C$65.00 in a research report on Wednesday, April 22nd. ATB Cormark Capital Markets cut Barrick Gold from a “moderate buy” rating to a “hold” rating and upped their target price for the company from C$70.00 to C$75.00 in a research report on Tuesday, April 7th. Barclays set a C$56.00 price target on Barrick Gold and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. National Bank Financial raised their price target on Barrick Gold from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Barrick Gold from C$91.00 to C$79.00 in a research note on Thursday, April 23rd. Five research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Barrick Gold has an average rating of “Buy” and a consensus target price of C$74.00.

Barrick Gold Trading Up 3.3%

TSE:ABX opened at C$52.22 on Thursday. The company has a debt-to-equity ratio of 17.29, a quick ratio of 2.62 and a current ratio of 3.06. Barrick Gold has a 1 year low of C$28.22 and a 1 year high of C$74.00. The stock has a market cap of C$87.50 billion, a P/E ratio of 14.43, a P/E/G ratio of 2.34 and a beta of 1.60. The stock has a 50-day simple moving average of C$56.04 and a 200-day simple moving average of C$59.91.

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

Insider Buying and Selling at Barrick Gold

In other Barrick Gold news, Director Robert Ananda Paul Samek acquired 10,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was purchased at an average price of C$55.06 per share, for a total transaction of C$550,600.00. Following the completion of the transaction, the director owned 18,900 shares of the company’s stock, valued at C$1,040,634. The trade was a 112.36% increase in their position. Also, Director Mark Francis Hill sold 88,000 shares of the firm’s stock in a transaction 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 trade represents a 18.78% decrease in their position. Insiders sold 134,422 shares of company stock valued at $7,695,879 in the last quarter. 0.60% of the stock is currently owned by company 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.