JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Barrick Gold (TSE:ABX) Stock

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price hoisted by investment analysts at JPMorgan Chase & Co. from C$89.00 to C$91.00 in a research report issued on Wednesday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 33.06% from the company’s previous close.

A number of other brokerages have also issued reports on ABX. DZ Bank upgraded shares of Barrick Gold to a “strong-buy” rating in a research note on Monday, January 19th. Stifel Nicolaus increased their target price on Barrick Gold from C$65.00 to C$95.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. BNP Paribas Exane raised shares of Barrick Gold to a “strong-buy” rating in a report on Friday, December 5th. National Bank Financial dropped their price target on shares of Barrick Gold from C$82.50 to C$75.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 10th. Finally, Canaccord Genuity Group decreased their price objective on shares of Barrick Gold from C$80.00 to C$77.00 in a report on Wednesday, February 18th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$74.25.

Barrick Gold Stock Performance

Shares of TSE:ABX traded up C$0.24 during midday trading on Wednesday, hitting C$68.39. The company had a trading volume of 1,213,774 shares, compared to its average volume of 6,075,683. The company has a fifty day moving average of C$65.03 and a two-hundred day moving average of C$52.74. Barrick Gold has a 12-month low of C$24.28 and a 12-month high of C$74.00. The company has a market cap of C$114.58 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.34 and a beta of 1.47. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its earnings results on Thursday, February 5th. The basic materials company reported C$1.43 EPS for the quarter. The firm had revenue of C$8.01 billion during the quarter. Barrick Gold had a return on equity of 6.90% and a net margin of 13.19%. On average, equities research analysts expect that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Insider Buying and Selling at Barrick Gold

In other Barrick Gold news, insider Graham Patrick Shuttleworth sold 100,000 shares of Barrick Gold stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of C$64.72, for a total transaction of C$6,472,000.00. Following the transaction, the insider directly owned 487,252 shares of the company’s stock, valued at C$31,534,949.44. The trade was a 17.03% decrease in their position. Also, Director Pekka Juhani Vauramo acquired 12,400 shares of Barrick Gold stock in a transaction dated Thursday, February 12th. The shares were bought at an average cost of C$65.41 per share, for a total transaction of C$811,084.00. Following the completion of the purchase, the director directly owned 12,400 shares of the company’s stock, valued at approximately C$811,084. The trade was a ∞ increase in their position. 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.