Barrick Gold (TSE:ABX) Given New C$58.00 Price Target at TD

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target decreased by stock analysts at TD from C$59.00 to C$58.00 in a report released on Tuesday, BayStreet reports. The firm currently has a “buy” rating on the basic materials company’s stock. TD’s target price would indicate a potential upside of 1.65% from the stock’s current price.

Several other brokerages also recently issued reports on ABX. Royal Bank Of Canada decreased their target price on 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. ATB Cormark Capital Markets dropped their price target on Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 11th. Canadian Imperial Bank of Commerce downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. Canaccord Genuity Group increased their price objective on shares of Barrick Gold from C$68.00 to C$73.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Finally, Stifel Nicolaus reduced their price objective on shares of Barrick Gold from C$90.00 to C$84.00 and set a “buy” rating on the stock in a research report on Monday. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$66.27.

Barrick Gold Price Performance

TSE:ABX traded down C$0.06 on Tuesday, reaching C$57.06. 1,246,733 shares of the company’s stock traded hands, compared to its average volume of 5,196,398. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 17.15. The stock has a 50-day simple moving average of C$59.99 and a 200-day simple moving average of C$57.14. The firm has a market cap of C$93.91 billion, a PE ratio of 14.74, a P/E/G ratio of 2.34 and a beta of 1.63. Barrick Gold has a 12 month low of C$42.62 and a 12 month high of C$74.00.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 EPS for the quarter. The business had revenue of C$6.06 billion for the quarter. Barrick Gold had a return on equity of 24.57% and a net margin of 31.60%. Equities research analysts forecast that Barrick Gold will post 2.24 earnings per share for the current year.

Insiders Place Their Bets

In other Barrick Gold news, insider Darian Kevin Rich sold 75,452 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of C$67.99, for a total transaction of C$5,129,981.48. Following the completion of the transaction, the insider owned 235,252 shares of the company’s stock, valued at C$15,994,783.48. This represents a 24.28% decrease in their position. Also, Director Mark Francis Hill sold 174,778 shares of Barrick Gold stock in a transaction dated Friday, September 25th. The stock was sold at an average price of C$59.47, for a total value of C$10,394,047.66. Following the completion of the sale, the director directly owned 125,914 shares in the company, valued at C$7,488,105.58. This trade represents a 58.13% decrease in their ownership of the stock. Corporate 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.