Barrick Gold Co. (TSE:ABX) Receives C$68.00 Consensus Price Target from Brokerages

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have earned an average rating of “Buy” from the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and three 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$67.67.

A number of research analysts have weighed in on ABX shares. Canaccord Genuity Group boosted their price objective on shares of Barrick Gold from C$68.00 to C$73.00 and gave the company a “buy” rating in a research report on Tuesday. National Bank Financial raised their target price on shares of Barrick Gold from C$67.50 to C$70.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Royal Bank Of Canada dropped their price target on shares of Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Citigroup cut their price target on shares of Barrick Gold from C$48.00 to C$41.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Finally, ATB Cormark Capital Markets reduced 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.

Barrick Gold Stock Performance

TSE ABX opened at C$67.58 on Friday. The company has a market cap of C$113.23 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.34 and a beta of 1.60. The company has a debt-to-equity ratio of 17.15, a quick ratio of 2.62 and a current ratio of 3.01. The business’s 50 day moving average price is C$54.92 and its 200-day moving average price is C$57.55. Barrick Gold has a fifty-two week low of C$35.97 and a fifty-two week high of C$74.00.

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

Insiders Place Their Bets

In other Barrick Gold news, Director Robert Ananda Paul Samek bought 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were purchased 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 owned 18,900 shares in the company, valued at C$1,040,634. This represents a 112.36% increase in their position. Also, insider Sarah Anna Ball Teslik purchased 12,613 shares of Barrick Gold stock in a transaction dated Friday, August 21st. The stock was acquired at an average price of C$67.27 per share, for a total transaction of C$848,476.51. Following the completion of the acquisition, the insider owned 12,613 shares of the company’s stock, valued at approximately C$848,476.51. This trade represents a ∞ increase in their position. In the last ninety days, insiders sold 209,874 shares of company stock worth $12,825,861. Corporate 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.