Analysts Set Barrick Gold Co. (TSE:ABX) Price Target at C$76.78

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have earned an average rating of “Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and five have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$76.78.

Several research analysts recently commented on the company. Sanford C. Bernstein lifted their price target on Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th. Barclays set a C$56.00 price objective on shares of Barrick Gold and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. BMO Capital Markets raised their price objective on shares of Barrick Gold from C$55.00 to C$65.00 in a research note on Wednesday, April 22nd. Canaccord Genuity Group decreased their price objective on shares of Barrick Gold from C$80.00 to C$77.00 in a research note on Wednesday, February 18th. Finally, ATB Cormark Capital Markets downgraded shares of Barrick Gold from a “moderate buy” rating to a “hold” rating and raised their price objective for the stock from C$70.00 to C$75.00 in a research note on Tuesday, April 7th.

Insider Activity

In other news, Director Robert Ananda Paul Samek acquired 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was acquired at an average price of C$55.06 per share, with a total value of C$550,600.00. Following the completion of the purchase, the director directly owned 18,900 shares in the company, valued at approximately C$1,040,634. This trade represents a 112.36% increase in their ownership of the stock. Also, Director Mark Francis Hill sold 88,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of C$57.85, for a total transaction of C$5,090,800.00. Following the completion of the sale, the director directly owned 380,598 shares of the company’s stock, valued at approximately C$22,017,594.30. The trade was a 18.78% decrease in their position. 0.60% of the stock is owned by company insiders.

Barrick Gold Trading Up 4.2%

ABX opened at C$58.62 on Tuesday. The firm has a market cap of C$98.22 billion, a P/E ratio of 16.19, a P/E/G ratio of 2.34 and a beta of 1.50. Barrick Gold has a 12 month low of C$27.89 and a 12 month high of C$74.00. The company has a current ratio of 3.06, a quick ratio of 2.62 and a debt-to-equity ratio of 17.29. The stock has a 50-day moving average of C$57.28 and a 200 day moving average of C$60.44.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings results on Monday, May 11th. The basic materials company reported C$1.36 EPS for the quarter. The company had revenue of C$5.81 billion during the quarter. Barrick Gold had a return on equity of 23.48% and a net margin of 32.04%. As a group, research analysts forecast that Barrick Gold will post 2.2422764 EPS for the current year.

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.