Barrick Gold (TSE:ABX) Sets New 12-Month High After Analyst Upgrade

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) hit a new 52-week high during trading on Monday after Canaccord Genuity Group raised their price target on the stock from C$68.00 to C$70.00. The company traded as high as C$59.92 and last traded at C$59.88, with a volume of 812001 shares traded. The stock had previously closed at C$58.43.

ABX has been the subject of a number of other reports. Cormark boosted their price target on shares of Barrick Gold from C$66.00 to C$78.00 in a research report on Tuesday, November 25th. Stifel Nicolaus lifted their target price on Barrick Gold from C$46.00 to C$65.00 in a research report on Monday, October 20th. National Bankshares upped their target price on Barrick Gold from C$60.00 to C$65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Citigroup upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 24th. Finally, National Bank Financial upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Six equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Barrick Gold currently has a consensus rating of “Buy” and a consensus target price of C$52.13.

Insider Buying and Selling

In related news, insider Rousseau Jooste sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of C$40.70, for a total transaction of C$122,112.00. Following the transaction, the insider owned 58,237 shares of the company’s stock, valued at C$2,370,478.85. This trade represents a 4.90% decrease in their ownership of the stock. Also, insider Joel James Holliday sold 13,588 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of C$40.38, for a total value of C$548,735.07. Following the sale, the insider directly owned 84,087 shares of the company’s stock, valued at approximately C$3,395,752.59. This represents a 13.91% decrease in their ownership of the stock. In the last ninety days, insiders sold 62,990 shares of company stock worth $2,580,075. Corporate insiders own 0.60% of the company’s stock.

Barrick Gold Trading Down 3.1%

The company has a fifty day moving average of C$48.93 and a two-hundred day moving average of C$37.80. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. The stock has a market capitalization of C$96.89 billion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 2.34 and a beta of 1.18.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data on Monday, November 10th. The basic materials company reported C$0.58 earnings per share (EPS) for the quarter. Barrick Gold had a net margin of 13.19% and a return on equity of 6.90%. The company had revenue of C$3.41 billion for the quarter. On average, research analysts expect that Barrick Gold Co. will post 2.2422764 EPS for the current year.

About Barrick Gold

Barrick Gold Corp is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.