Barrick Gold (TSE:ABX) Price Target Raised to C$21.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective upped by Royal Bank of Canada to C$21.00 in a research report issued on Friday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Royal Bank of Canada’s price target would suggest a potential downside of 5.91% from the company’s current price.

Several other research firms have also recently commented on ABX. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Sanford C. Bernstein dropped their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. TD Securities reissued a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a report on Wednesday, October 16th. UBS Group lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.17.

Barrick Gold Stock Performance

Barrick Gold stock traded up C$0.41 during midday trading on Friday, reaching C$22.32. The stock had a trading volume of 5,614,355 shares, compared to its average volume of 3,566,783. The firm has a market capitalization of C$39.06 billion, a PE ratio of 18.76, a P/E/G ratio of 2.34 and a beta of 0.48. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. The firm’s 50-day moving average price is C$25.54 and its 200 day moving average price is C$25.25. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.50.

Insider Activity at Barrick Gold

In other news, Director Dennis Mark Bristow bought 85,296 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average price of C$25.03 per share, for a total transaction of C$2,135,291.53. Also, Senior Officer Poupak Bahamin sold 2,500 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of C$24.49, for a total transaction of C$61,215.00. 0.60% of the stock is currently owned by company insiders.

About Barrick Gold

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.