Canaccord Genuity Group Lowers Barrick Gold (TSE:ABX) Price Target to C$77.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective lowered by analysts at Canaccord Genuity Group from C$80.00 to C$77.00 in a research report issued on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price objective would indicate a potential upside of 16.90% from the company’s current price.

Several other research firms have also recently issued reports on ABX. National Bank Financial decreased their price target on Barrick Gold from C$82.50 to C$75.00 and set an “outperform” rating on the stock in a report on Tuesday, February 10th. Stifel Nicolaus lifted their price target on shares of Barrick Gold from C$65.00 to C$95.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. DZ Bank upgraded shares of Barrick Gold to a “strong-buy” rating in a report on Monday, January 19th. Scotiabank raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. set a C$92.00 price target on Barrick Gold and gave the company an “overweight” rating in a research note on Thursday, January 29th. Six equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Barrick Gold currently has an average rating of “Buy” and an average target price of C$74.38.

Barrick Gold Trading Up 3.5%

TSE:ABX traded up C$2.23 during trading hours on Wednesday, hitting C$65.87. 1,590,303 shares of the stock were exchanged, compared to its average volume of 5,754,578. The company has a market capitalization of C$110.36 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 2.34 and a beta of 1.47. 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 company’s 50 day moving average is C$64.26 and its two-hundred day moving average is C$51.48. Barrick Gold has a twelve month low of C$24.28 and a twelve month high of C$74.00.

Insider Activity

In other news, insider Graham Patrick Shuttleworth sold 100,000 shares of Barrick Gold stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of C$64.72, for a total transaction of C$6,472,000.00. Following the transaction, the insider owned 487,252 shares in the company, valued at C$31,534,949.44. The trade was a 17.03% decrease in their position. Also, Director Pekka Juhani Vauramo acquired 12,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average price of C$65.41 per share, with a total value of C$811,084.00. Following the completion of the transaction, the director directly owned 12,400 shares in the company, valued at C$811,084. This trade represents a ∞ increase in their position. Insiders own 0.60% of the company’s stock.

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.