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

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target dropped by Canaccord Genuity Group from C$80.00 to C$77.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price target indicates a potential upside of 16.90% from the company’s previous close.

A number of other analysts have also commented on ABX. DZ Bank raised shares of Barrick Gold to a “strong-buy” rating in a research report on Monday, January 19th. Stifel Nicolaus boosted 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. National Bank Financial decreased their price objective on Barrick Gold from C$82.50 to C$75.00 and set an “outperform” rating for the company in a report on Tuesday, February 10th. Cormark lifted their target price on Barrick Gold from C$66.00 to C$78.00 in a research report on Tuesday, November 25th. Finally, BNP Paribas Exane raised Barrick Gold to a “strong-buy” rating in a research report on Friday, December 5th. Six investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$74.38.

Barrick Gold Stock Up 3.5%

Shares of ABX stock traded up C$2.23 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 current ratio of 2.65, a quick ratio of 2.62 and a debt-to-equity ratio of 19.83. The firm 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. Barrick Gold has a fifty-two week low of C$24.28 and a fifty-two week high of C$74.00. The business has a 50-day moving average of C$64.26 and a 200 day moving average of C$51.48.

Insider Buying and Selling

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

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.