Barrick Gold (TSE:ABX) Price Target Raised to C$70.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price raised by National Bank Financial from C$67.50 to C$70.00 in a report released on Tuesday morning,BayStreet.CA reports. National Bank Financial currently has an outperform rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets increased their price target on shares of Barrick Gold from C$55.00 to C$65.00 in a research report on Wednesday, April 22nd. Sanford C. Bernstein lifted their price objective on shares of Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th. Royal Bank Of Canada dropped their target price on shares of Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. JPMorgan Chase & Co. reduced their target price on shares of Barrick Gold from C$91.00 to C$79.00 in a research report on Thursday, April 23rd. Finally, Barclays decreased their price target on shares of Barrick Gold from C$56.00 to C$55.00 in a research note on Thursday, July 16th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$68.00.

Barrick Gold Stock Performance

Shares of ABX opened at C$57.08 on Tuesday. The firm has a market capitalization of C$95.64 billion, a P/E ratio of 15.77, a P/E/G ratio of 2.34 and a beta of 1.60. Barrick Gold has a 52 week low of C$32.34 and a 52 week high of C$74.00. The stock has a 50 day moving average price of C$53.81 and a two-hundred day moving average price of C$57.82. The company has a debt-to-equity ratio of 17.15, a quick ratio of 2.62 and a current ratio of 3.01.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its earnings results on Monday, August 10th. The basic materials company reported C$1.17 earnings per share for the quarter. Barrick Gold had a return on equity of 24.45% and a net margin of 31.63%.The company had revenue of C$6.06 billion for the quarter. Equities analysts forecast that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

Insider Buying and Selling at Barrick Gold

In other Barrick Gold news, Director Mark Francis Hill sold 9,453 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of C$56.85, for a total transaction of C$537,403.05. Following the sale, the director owned 334,176 shares in the company, valued at C$18,997,905.60. This represents a 2.75% decrease in their ownership of the stock. Also, Director Robert Ananda Paul Samek purchased 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of C$55.06 per share, with a total value of C$550,600.00. Following the completion of the acquisition, the director directly owned 18,900 shares of the company’s stock, valued at approximately C$1,040,634. This trade represents a 112.36% increase in their ownership of the stock. In the last 90 days, insiders have sold 134,422 shares of company stock worth $7,695,879. Company insiders own 0.60% of the company’s stock.

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.