Barrick Gold (TSE:ABX) Stock Bumped Down to “Hold” by Freedom Broker

Freedom Broker cut shares of Barrick Gold (TSE:ABX) (NYSE:ABX) from a strong-buy rating to a hold rating in a report published on Thursday,Zacks reports.

A number of other analysts have also recently commented on the stock. Citigroup raised shares of Barrick Gold to a “hold” rating in a research note on Thursday, September 3rd. Raymond James Financial decreased 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 note on Tuesday, August 11th. Stifel Nicolaus lowered their price objective on Barrick Gold from C$90.00 to C$84.00 and set a “buy” rating on the stock in a report on Monday, October 19th. National Bank Financial cut their price objective on Barrick Gold from C$75.00 to C$72.50 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Royal Bank Of Canada cut their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average price target of C$66.27.

Barrick Gold Stock Down 1.3%

Shares of ABX opened at C$53.36 on Thursday. The firm has a market cap of C$87.82 billion, a P/E ratio of 13.79, a PEG ratio of 2.34 and a beta of 1.63. Barrick Gold has a 12 month low of C$43.33 and a 12 month high of C$74.00. The stock’s 50 day moving average is C$59.85 and its two-hundred day moving average is C$57.07. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 17.15.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Monday, August 10th. The basic materials company reported C$1.17 earnings per share (EPS) for the quarter. The firm had revenue of C$6.06 billion for the quarter. Barrick Gold had a return on equity of 24.57% and a net margin of 31.60%. Analysts predict that Barrick Gold will post 2.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Barrick Gold news, insider Sarah Anna Ball Teslik acquired 12,613 shares of the business’s stock in a transaction on Friday, August 21st. The stock was bought at an average price of C$67.27 per share, for a total transaction of C$848,476.51. Following the acquisition, the insider owned 12,613 shares in the company, valued at approximately C$848,476.51. The trade was a ∞ increase in their ownership of the stock. Also, Director Mark Francis Hill sold 174,778 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 125,914 shares in the company, valued at C$7,488,105.58. This trade represents a 58.13% decrease in their ownership of the stock. 0.60% of the stock is currently owned by company 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.