Barrick Gold (TSE:ABX) Upgraded to Hold at Citigroup

Citigroup upgraded shares of Barrick Gold (TSE:ABX) (NYSE:ABX) to a hold rating in a research report sent to investors on Thursday morning,Zacks reports.

Several other equities analysts have also recently weighed in on ABX. Barclays raised their price target on shares of Barrick Gold from C$55.00 to C$58.00 in a research note on Thursday, August 13th. National Bank Financial boosted their price objective on shares of Barrick Gold from C$67.50 to C$70.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Canaccord Genuity Group increased their target price on shares of Barrick Gold from C$68.00 to C$73.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Raymond James Financial decreased their target price on shares of Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada lowered their price target on shares of Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$67.67.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at C$63.03 on Thursday. The company has a debt-to-equity ratio of 17.15, a current ratio of 3.01 and a quick ratio of 2.62. The firm has a market cap of C$105.61 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60. The stock’s 50-day moving average is C$56.00 and its 200-day moving average is C$57.55. Barrick Gold has a one year low of C$37.09 and a one year high of C$74.00.

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

Insider Activity at Barrick Gold

In related news, insider Sarah Anna Ball Teslik purchased 12,613 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was purchased at an average cost of C$67.27 per share, for a total transaction of C$848,476.51. Following the completion of the purchase, the insider directly owned 12,613 shares in the company, valued at C$848,476.51. This trade represents a ∞ increase in their ownership of the stock. Also, insider Darian Kevin Rich sold 75,452 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of C$67.99, for a total value of C$5,129,981.48. Following the transaction, the insider directly owned 235,252 shares in the company, valued at C$15,994,783.48. This trade represents a 24.28% decrease in their position. Over the last ninety days, insiders sold 121,874 shares of company stock valued at $7,735,061. Insiders own 0.60% of the company’s stock.

About Barrick Gold

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.