Raymond James Financial Cuts Barrick Gold (TSE:ABX) Price Target to C$56.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target lowered by equities researchers at Raymond James Financial from C$58.00 to C$56.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Raymond James Financial’s target price points to a potential downside of 0.28% from the stock’s previous close.

ABX has been the subject of a number of other research reports. BMO Capital Markets upped their price objective on shares of Barrick Gold from C$55.00 to C$65.00 in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. dropped their target price on Barrick Gold from C$91.00 to C$79.00 in a report on Thursday, April 23rd. ATB Cormark Capital Markets cut their price objective on shares of Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating on the stock in a report on Tuesday. National Bank Financial lifted their price target on shares of Barrick Gold from C$67.50 to C$70.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Barclays lowered their price objective on Barrick Gold from C$56.00 to C$55.00 in a report on Thursday, July 16th. Four investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$67.75.

Barrick Gold Price Performance

Shares of ABX traded down C$0.87 during mid-day trading on Tuesday, reaching C$56.16. 1,936,582 shares of the company’s stock were exchanged, compared to its average volume of 5,618,163. Barrick Gold has a 52-week low of C$31.62 and a 52-week high of C$74.00. The company has a market cap of C$94.10 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 2.34 and a beta of 1.60. The company has a 50-day simple moving average of C$53.95 and a two-hundred day simple moving average of C$58.07. The company has a quick ratio of 2.62, a current ratio of 3.06 and a debt-to-equity ratio of 17.29.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 earnings per share (EPS) for the quarter. The business had revenue of C$6.06 billion for the quarter. Barrick Gold had a return on equity of 23.58% and a net margin of 32.14%. On average, sell-side analysts predict that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Insider Buying and Selling

In other Barrick Gold news, Director Robert Ananda Paul Samek bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average cost of C$55.06 per share, with a total value of C$550,600.00. Following the completion of the purchase, the director directly owned 18,900 shares in the company, valued at approximately C$1,040,634. This trade represents a 112.36% increase in their ownership of the stock. Also, Director Mark Francis Hill sold 88,000 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of C$57.85, for a total value of C$5,090,800.00. Following the completion of the transaction, the director owned 380,598 shares of the company’s stock, valued at C$22,017,594.30. This trade represents a 18.78% decrease in their position. Insiders have sold 134,422 shares of company stock worth $7,695,879 in the last quarter. Company insiders own 0.60% of the company’s stock.

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.