Barrick Gold (TSE:ABX) Price Target Lowered to C$55.00 at Barclays

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective lowered by Barclays from C$56.00 to C$55.00 in a report published on Thursday,BayStreet.CA reports.

ABX has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their target price on shares of Barrick Gold from C$91.00 to C$79.00 in a research report on Thursday, April 23rd. Royal Bank Of Canada decreased their price target on shares of Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. BMO Capital Markets increased their price objective on shares of Barrick Gold from C$55.00 to C$65.00 in a report on Wednesday, April 22nd. National Bank Financial cut their price objective on Barrick Gold from C$75.00 to C$67.50 and set an “outperform” rating for the company in a research report on Tuesday. Finally, ATB Cormark Capital Markets lowered Barrick Gold from a “moderate buy” rating to a “hold” rating and raised their price objective for the company from C$70.00 to C$75.00 in a research report on Tuesday, April 7th. Five analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$73.15.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at C$48.94 on Thursday. The company has a market capitalization of C$82.00 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 2.34 and a beta of 1.60. The company has a quick ratio of 2.62, a current ratio of 3.06 and a debt-to-equity ratio of 17.29. The stock’s 50-day simple moving average is C$55.66 and its 200-day simple moving average is C$59.50. Barrick Gold has a 52 week low of C$28.22 and a 52 week high of C$74.00.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Monday, May 11th. The basic materials company reported C$1.36 EPS for the quarter. The company had revenue of C$5.81 billion for the quarter. Barrick Gold had a return on equity of 23.58% and a net margin of 32.14%. As a group, analysts expect that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Barrick Gold news, Director Mark Francis Hill sold 88,000 shares of Barrick Gold stock in a transaction on Thursday, May 28th. The shares were sold at an average price of C$57.85, for a total transaction of C$5,090,800.00. Following the completion of the transaction, the director directly owned 380,598 shares of the company’s stock, valued at C$22,017,594.30. The trade was a 18.78% decrease in their ownership of the stock. Also, Director Robert Ananda Paul Samek acquired 10,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of C$55.06 per share, for a total transaction of C$550,600.00. Following the transaction, the director directly owned 18,900 shares of the company’s stock, valued at approximately C$1,040,634. The trade was a 112.36% increase in their ownership of the stock. In the last quarter, insiders sold 134,422 shares of company stock valued at $7,695,879. Company insiders own 0.60% of the company’s stock.

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.