Barrick Gold (TSE:ABX) Stock Rating Lowered by Canadian Imperial Bank of Commerce

Barrick Gold (TSE:ABX) (NYSE:ABX) was downgraded by research analysts at Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks reports.

A number of other research firms have also commented on ABX. Citigroup raised Barrick Gold to a “hold” rating in a research note on Thursday, September 3rd. Royal Bank Of Canada lowered their target price on 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. Barclays lifted their price target on Barrick Gold from C$55.00 to C$58.00 in a report on Thursday, August 13th. ATB Cormark Capital Markets cut their price target on Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating for the company in a report on Tuesday, August 11th. Finally, Raymond James Financial reduced their price target on shares of Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average price target of C$67.67.

Barrick Gold Price Performance

Shares of ABX traded up C$0.18 on Thursday, hitting C$57.74. The company’s stock had a trading volume of 2,666,984 shares, compared to its average volume of 5,231,271. The company has a market capitalization of C$95.03 billion, a PE ratio of 14.92, a PEG ratio of 2.34 and a beta of 1.63. Barrick Gold has a fifty-two week low of C$42.62 and a fifty-two week high of C$74.00. The company has a 50 day moving average price of C$59.99 and a 200 day moving average price of C$57.12. The company has a debt-to-equity ratio of 17.15, a current ratio of 3.01 and a quick ratio of 2.62.

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. Barrick Gold had a return on equity of 24.57% and a net margin of 31.60%. The firm had revenue of C$6.06 billion during the quarter. On average, research analysts anticipate that Barrick Gold will post 2.24 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Mark Francis Hill sold 174,778 shares of the business’s stock in a transaction on Friday, September 25th. The stock was sold at an average price of C$59.47, for a total transaction of C$10,394,047.66. Following the completion of the sale, the director owned 125,914 shares in the company, valued at C$7,488,105.58. The trade was a 58.13% decrease in their ownership of the stock. Also, insider Sarah Anna Ball Teslik purchased 12,613 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were purchased at an average cost of C$67.27 per share, for a total transaction of C$848,476.51. Following the purchase, the insider directly owned 12,613 shares of the company’s stock, valued at C$848,476.51. This trade represents a ∞ increase in their ownership of the stock. 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.