Barrick Gold (TSE:ABX) Price Target Raised to C$73.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective upped by Canaccord Genuity Group from C$68.00 to C$73.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a buy rating on the basic materials company’s stock.

Several other research firms have also issued reports on ABX. Raymond James Financial reduced their price target on Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Citigroup lowered their price target on shares of Barrick Gold from C$48.00 to C$41.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Barclays raised their price target on shares of Barrick Gold from C$55.00 to C$58.00 in a report on Thursday, August 13th. ATB Cormark Capital Markets decreased their price objective on shares of Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. Finally, National Bank Financial upped their price target on Barrick Gold from C$67.50 to C$70.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$67.67.

Barrick Gold Stock Performance

Shares of ABX stock opened at C$65.59 on Tuesday. The stock has a market capitalization of C$109.90 billion, a P/E ratio of 16.95, a PEG ratio of 2.34 and a beta of 1.60. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 17.15. The firm’s 50 day moving average is C$55.22 and its 200 day moving average is C$57.61. Barrick Gold has a 12 month low of C$35.97 and a 12 month high of C$74.00.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 earnings per share for the quarter. The business had revenue of C$6.06 billion during the quarter. Barrick Gold had a net margin of 31.60% and a return on equity of 24.57%. On average, sell-side analysts anticipate that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insider Activity

In other news, Director Mark Francis Hill sold 9,453 shares of the firm’s stock in a transaction 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 sale, the director directly owned 334,176 shares in the company, valued at C$18,997,905.60. This trade represents a 2.75% decrease in their position. Also, Director Robert Ananda Paul Samek bought 10,000 shares of the stock in a transaction that occurred 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 purchase, the director owned 18,900 shares in the company, valued at C$1,040,634. This represents a 112.36% increase in their position. In the last ninety days, insiders sold 121,874 shares of company stock valued at $7,735,061. 0.60% of the stock is currently owned by company 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.