Barrick Gold (TSE:ABX) Given New C$49.00 Price Target at Royal Bank Of Canada

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price dropped by research analysts at Royal Bank Of Canada from C$51.00 to C$49.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price would suggest a potential downside of 6.00% from the company’s previous close.

ABX has been the subject of several other reports. JPMorgan Chase & Co. lowered their target price on Barrick Gold from C$91.00 to C$79.00 in a research note on Thursday, April 23rd. BMO Capital Markets boosted their price objective on Barrick Gold from C$55.00 to C$65.00 in a research report on Wednesday, April 22nd. ATB Cormark Capital Markets cut shares of Barrick Gold from a “moderate buy” rating to a “hold” rating and raised their target price for the company from C$70.00 to C$75.00 in a research note on Tuesday, April 7th. Barclays set a C$56.00 price objective on Barrick Gold and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. Finally, Sanford C. Bernstein increased their target price on shares of Barrick Gold from C$86.00 to C$91.00 in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Barrick Gold currently has a consensus rating of “Buy” and an average price target of C$74.00.

Barrick Gold Trading Up 3.2%

TSE:ABX traded up C$1.60 on Thursday, hitting C$52.13. 831,634 shares of the stock were exchanged, compared to its average volume of 5,828,698. The stock has a fifty day moving average of C$56.07 and a 200-day moving average of C$59.98. The stock has a market cap of C$87.34 billion, a PE ratio of 14.40, a PEG ratio of 2.34 and a beta of 1.60. Barrick Gold has a fifty-two week low of C$28.22 and a fifty-two week high of C$74.00. The company has a current ratio of 3.06, a quick ratio of 2.62 and a debt-to-equity ratio of 17.29.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Monday, May 11th. The basic materials company reported C$1.36 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. As a group, equities analysts expect that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mark Francis Hill sold 9,453 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of C$56.85, for a total value of C$537,403.05. Following the completion of the sale, the director directly owned 334,176 shares in the company, valued at approximately 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 firm’s stock in a transaction dated Friday, June 5th. The shares were bought at an average price of C$55.06 per share, with a total value of C$550,600.00. Following the purchase, the director owned 18,900 shares in the company, valued at C$1,040,634. This represents a 112.36% increase in their position. Over the last quarter, insiders have sold 134,422 shares of company stock valued at $7,695,879. 0.60% of the stock is owned by corporate insiders.

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.