Insider Selling: Barrick Gold (TSE:ABX) Director Sells C$5,090,800.00 in Stock

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) Director Mark Francis Hill sold 88,000 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of C$57.85, for a total transaction of C$5,090,800.00. Following the sale, the director directly owned 380,598 shares in the company, valued at C$22,017,594.30. This trade represents a 18.78% decrease in their ownership of the stock.

Barrick Gold Stock Performance

Shares of TSE ABX opened at C$58.90 on Monday. The company’s fifty day moving average price is C$56.72 and its 200 day moving average price is C$60.12. Barrick Gold Co. has a 1 year low of C$25.94 and a 1 year high of C$74.00. The company has a market capitalization of C$98.69 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.34 and a beta of 1.62. The company has a debt-to-equity ratio of 17.29, a quick ratio of 2.62 and a current ratio of 3.06.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Monday, May 11th. The basic materials company reported C$1.36 earnings per share (EPS) for the quarter. Barrick Gold had a net margin of 32.04% and a return on equity of 23.48%. The firm had revenue of C$5.81 billion for the quarter. On average, research analysts predict that Barrick Gold Co. will post 2.2422764 earnings per share for the current year.

Analysts Set New Price Targets

ABX has been the topic of a number of recent analyst reports. Barclays set a C$56.00 price target on shares of Barrick Gold and gave the stock an “equal weight” rating in a report on Friday, May 22nd. JPMorgan Chase & Co. lowered their price target on shares of Barrick Gold from C$91.00 to C$79.00 in a report on Thursday, April 23rd. Canaccord Genuity Group lowered their price target on shares of Barrick Gold from C$80.00 to C$77.00 in a report on Wednesday, February 18th. Sanford C. Bernstein increased their price objective on shares of Barrick Gold from C$86.00 to C$91.00 in a report on Monday, April 20th. Finally, ATB Cormark Capital Markets downgraded shares of Barrick Gold from a “moderate buy” rating to a “hold” rating and increased their price objective for the company from C$70.00 to C$75.00 in a report on Tuesday, April 7th. Five research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$76.78.

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.