Barrick Gold (TSE:ABX) Upgraded by Cormark to “Buy” Rating

Barrick Gold (TSE:ABX) (NYSE:ABX) was upgraded by research analysts at Cormark from a “market perform” rating to a “buy” rating in a research note issued to investors on Tuesday,BayStreet.CA reports.

ABX has been the topic of several other research reports. BMO Capital Markets lifted their price target on shares of Barrick Gold from C$37.00 to C$41.00 in a research report on Monday, September 22nd. National Bankshares lifted 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. Scotiabank upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Canaccord Genuity Group boosted their price target on shares of Barrick Gold from C$39.00 to C$57.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Finally, National Bank Financial raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Five investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$46.38.

Barrick Gold Trading Up 2.1%

Shares of TSE ABX traded up C$1.01 during trading on Tuesday, hitting C$49.90. 1,915,193 shares of the company were exchanged, compared to its average volume of 4,373,860. The company has a fifty day moving average price of C$44.75 and a 200-day moving average price of C$34.61. The company has a debt-to-equity ratio of 19.83, a quick ratio of 2.62 and a current ratio of 2.65. The firm has a market capitalization of C$85.13 billion, a PE ratio of 31.38, a P/E/G ratio of 2.34 and a beta of 1.18. Barrick Gold has a 12-month low of C$21.73 and a 12-month high of C$51.09.

Insiders Place Their Bets

In other news, insider Rousseau Jooste sold 3,000 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of C$40.70, for a total value of C$122,112.00. Following the completion of the transaction, the insider owned 58,237 shares in the company, valued at C$2,370,478.85. This trade represents a 4.90% decrease in their ownership of the stock. Also, insider Grant Bill Beringer sold 38,000 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of C$41.13, for a total transaction of C$1,562,959.00. Following the completion of the transaction, the insider owned 107,047 shares in the company, valued at approximately C$4,402,896.63. This trade represents a 26.20% decrease in their ownership of the stock. Insiders have sold 62,990 shares of company stock valued at $2,580,075 in the last three months. 0.60% of the stock is owned by corporate insiders.

Barrick Gold Company Profile

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.