ATB Cormark Capital Markets Has Lowered Expectations for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target lowered by research analysts at ATB Cormark Capital Markets from C$60.00 to C$57.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. ATB Cormark Capital Markets’ price objective suggests a potential upside of 1.50% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Barclays reduced their target price on Barrick Gold from C$56.00 to C$55.00 in a report on Thursday, July 16th. Citigroup lowered their target price on Barrick Gold from C$48.00 to C$41.00 and set a “neutral” rating on the stock in a research note on Monday, July 27th. JPMorgan Chase & Co. decreased their price objective on shares of Barrick Gold from C$91.00 to C$79.00 in a report on Thursday, April 23rd. Royal Bank Of Canada lowered their price target on Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Finally, Sanford C. Bernstein increased their price objective on Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th. Four research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Barrick Gold presently has an average rating of “Buy” and an average target price of C$67.75.

Barrick Gold Price Performance

Shares of TSE:ABX traded down C$0.87 during trading on Tuesday, reaching C$56.16. The company had a trading volume of 1,936,582 shares, compared to its average volume of 5,618,163. The firm has a market capitalization of C$94.10 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60. 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 twelve month low of C$31.62 and a twelve month high of C$74.00. The firm’s fifty day moving average is C$53.95 and its 200 day moving average is C$58.07.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings results on Monday, August 10th. The basic materials company reported C$1.17 earnings per share (EPS) for the quarter. The company had revenue of C$6.06 billion for the quarter. Barrick Gold had a return on equity of 23.58% and a net margin of 32.14%. On average, equities analysts forecast that Barrick Gold will post 2.2422764 EPS for the current year.

Insider Buying and Selling at Barrick Gold

In related news, Director Robert Ananda Paul Samek acquired 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of C$55.06 per share, with a total value of C$550,600.00. Following the acquisition, the director directly owned 18,900 shares in the company, valued at C$1,040,634. The trade was a 112.36% increase in their ownership of the stock. Also, Director Mark Francis Hill sold 9,453 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of C$56.85, for a total transaction of C$537,403.05. Following the completion of the sale, the director directly owned 334,176 shares of the company’s stock, valued at approximately C$18,997,905.60. This represents a 2.75% decrease in their position. Insiders sold a total of 134,422 shares of company stock worth $7,695,879 in the last 90 days. 0.60% of the stock is 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.