Canaccord Genuity Group Has Lowered Expectations for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target reduced by stock analysts at Canaccord Genuity Group from C$33.50 to C$30.00 in a research report issued on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price target points to a potential upside of 32.45% from the stock’s current price.

A number of other research firms also recently issued reports on ABX. Stifel Nicolaus lowered their price objective on shares of Barrick Gold from C$33.50 to C$32.00 in a report on Monday, December 2nd. UBS Group cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Royal Bank of Canada upped their target price on Barrick Gold to C$21.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, TD Securities reaffirmed a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$30.57.

Barrick Gold Trading Up 1.3 %

Shares of Barrick Gold stock traded up C$0.29 during trading hours on Wednesday, hitting C$22.65. The company’s stock had a trading volume of 985,610 shares, compared to its average volume of 3,062,739. The stock has a 50 day moving average of C$23.65 and a 200 day moving average of C$25.19. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.50. The company has a market capitalization of C$39.64 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48.

Insider Activity

In related news, Senior Officer Poupak Bahamin sold 2,500 shares of the business’s 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. Also, Director Dennis Mark Bristow acquired 85,296 shares of the stock in a transaction dated Thursday, November 21st. The stock was purchased at an average cost of C$25.03 per share, with a total value of C$2,135,291.53. Corporate insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

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.