Citigroup Issues Pessimistic Forecast for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective cut by Citigroup from C$48.00 to C$41.00 in a research report issued on Monday,BayStreet.CA reports. The firm presently has a “neutral” rating on the basic materials company’s stock. Citigroup’s target price would suggest a potential downside of 21.77% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. ATB Cormark Capital Markets downgraded shares of Barrick Gold from a “moderate buy” rating to a “hold” rating and boosted their price objective for the company from C$70.00 to C$75.00 in a research report on Tuesday, April 7th. 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. JPMorgan Chase & Co. decreased their price target on shares of Barrick Gold from C$91.00 to C$79.00 in a research note on Thursday, April 23rd. Barclays dropped their target price on Barrick Gold from C$56.00 to C$55.00 in a report on Thursday, July 16th. Finally, Royal Bank Of Canada reduced their price objective on shares of Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$70.23.

Barrick Gold Stock Up 0.1%

Shares of TSE ABX traded up C$0.07 on Monday, reaching C$52.41. 1,093,077 shares of the company’s stock traded hands, compared to its average volume of 5,607,953. Barrick Gold has a 12 month low of C$28.95 and a 12 month high of C$74.00. The company has a market cap of C$87.81 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60. The business’s 50 day simple moving average is C$54.54 and its two-hundred day simple moving average is C$59.10. 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 posted its quarterly earnings results on Monday, May 11th. The basic materials company reported C$1.36 earnings per share (EPS) for the quarter. The firm had revenue of C$5.81 billion during the quarter. Barrick Gold had a return on equity of 23.58% and a net margin of 32.14%. As a group, equities research analysts forecast that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert Ananda Paul Samek purchased 10,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were bought at an average cost of C$55.06 per share, for a total transaction of C$550,600.00. Following the transaction, the director owned 18,900 shares of the company’s stock, valued at C$1,040,634. This represents a 112.36% increase in their ownership of the stock. Also, Director Mark Francis Hill sold 88,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 380,598 shares of the company’s stock, valued at approximately C$22,017,594.30. This represents a 18.78% decrease in their ownership of the stock. In the last three months, insiders have sold 134,422 shares of company stock worth $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.