Barrick Gold (TSE:ABX) Stock Price Target Lowered at National Bank Financial

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price reduced by research analysts at National Bank Financial from C$75.00 to C$72.50 in a note issued to investors on Tuesday, BayStreet reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. National Bank Financial’s target price would suggest a potential upside of 27.06% from the stock’s previous close.

A number of other research firms have also recently weighed in on ABX. Barclays boosted their target price on shares of Barrick Gold from C$55.00 to C$58.00 in a research note on Thursday, August 13th. Canaccord Genuity Group increased their price target on Barrick Gold from C$68.00 to C$73.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. ATB Cormark Capital Markets cut their price objective on Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 11th. TD cut their price objective on Barrick Gold from C$59.00 to C$58.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Stifel Nicolaus reduced their price objective on Barrick Gold from C$90.00 to C$84.00 and set a “buy” rating on the stock in a research report on Monday. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and a consensus price target of C$66.27.

Barrick Gold Price Performance

ABX stock traded down C$0.06 during trading on Tuesday, reaching C$57.06. 1,246,733 shares of the company were exchanged, compared to its average volume of 5,196,398. The company has a 50-day moving average of C$59.99 and a two-hundred day moving average of C$57.14. The company has a market capitalization of C$93.91 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 2.34 and a beta of 1.63. Barrick Gold has a twelve month low of C$42.62 and a twelve month high of C$74.00. The company has a debt-to-equity ratio of 17.15, a current ratio of 3.01 and a quick ratio of 2.62.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 EPS for the quarter. Barrick Gold had a net margin of 31.60% and a return on equity of 24.57%. The business had revenue of C$6.06 billion during the quarter. As a group, equities analysts predict that Barrick Gold will post 2.24 earnings per share for the current fiscal year.

Insider Activity at Barrick Gold

In other Barrick Gold news, Director Mark Francis Hill sold 174,778 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of C$59.47, for a total transaction of C$10,394,047.66. Following the sale, the director directly owned 125,914 shares of the company’s stock, valued at C$7,488,105.58. The trade was a 58.13% decrease in their position. Also, insider Sarah Anna Ball Teslik bought 12,613 shares of Barrick Gold stock in a transaction on Friday, August 21st. The shares were acquired at an average cost of C$67.27 per share, for a total transaction of C$848,476.51. Following the completion of the acquisition, the insider directly owned 12,613 shares in the company, valued at approximately C$848,476.51. The trade was a ∞ increase in their ownership of the stock. 0.60% of the stock is 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.