Barrick Gold (TSE:ABX) Stock Gets Price Target Cut from National Bank Financial

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target trimmed by National Bank Financial from C$75.00 to C$72.50 in a research note released on Tuesday,BayStreet reports. The brokerage currently has an outperform rating on the basic materials company’s stock.

Several other brokerages also recently commented on ABX. Raymond James Financial lowered 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 note on Tuesday, August 11th. Canaccord Genuity Group lifted their price target on shares of Barrick Gold from C$68.00 to C$73.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Canadian Imperial Bank of Commerce lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Barclays boosted their price target on shares of Barrick Gold from C$55.00 to C$58.00 in a report on Thursday, August 13th. Finally, ATB Cormark Capital Markets lowered their price objective on shares of Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$66.27.

Barrick Gold Stock Performance

Shares of TSE:ABX opened at C$54.08 on Tuesday. The company has a market capitalization of C$89.01 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 2.34 and a beta of 1.63. The firm’s 50 day simple moving average is C$59.94 and its 200 day simple moving average is C$57.10. 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 has a fifty-two week low of C$43.33 and a fifty-two week high of C$74.00.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 earnings per share for the quarter. The business had revenue of C$6.06 billion for the quarter. Barrick Gold had a net margin of 31.60% and a return on equity of 24.57%. As a group, sell-side analysts forecast that Barrick Gold will post 2.24 earnings per share for the current year.

Insider Transactions at Barrick Gold

In other news, insider Darian Kevin Rich sold 75,452 shares of Barrick Gold stock in a transaction dated Monday, August 24th. The stock was sold at an average price of C$67.99, for a total transaction of C$5,129,981.48. Following the transaction, the insider owned 235,252 shares in the company, valued at C$15,994,783.48. The trade was a 24.28% decrease in their position. Also, insider Sarah Anna Ball Teslik acquired 12,613 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was acquired at an average price of C$67.27 per share, with a total value of C$848,476.51. Following the completion of the transaction, the insider directly owned 12,613 shares in the company, valued at C$848,476.51. This trade represents a ∞ increase in their position. 0.60% of the stock is currently owned by insiders.

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.