Barrick Gold (TSE:ABX) Issues Earnings Results

Barrick Gold (TSE:ABX) (NYSE:ABX) released its earnings results on Monday. The basic materials company reported C$1.17 earnings per share for the quarter, reports. Barrick Gold had a net margin of 32.14% and a return on equity of 23.58%. The business had revenue of C$6.06 billion during the quarter.

Barrick Gold Stock Performance

Shares of TSE:ABX traded down C$4.36 on Monday, reaching C$56.60. 4,226,866 shares of the company’s stock were exchanged, compared to its average volume of 5,610,694. 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 has a twelve month low of C$30.53 and a twelve month high of C$74.00. The company has a fifty day moving average of C$53.98 and a 200-day moving average of C$58.15. The company has a market capitalization of C$94.83 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 2.34 and a beta of 1.60.

Insiders Place Their Bets

In related news, Director Robert Ananda Paul Samek purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average price of C$55.06 per share, with a total value of C$550,600.00. Following the completion of the purchase, the director directly owned 18,900 shares in the company, valued at C$1,040,634. This trade 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 sale, the director directly owned 380,598 shares of the company’s stock, valued at approximately C$22,017,594.30. This trade represents a 18.78% decrease in their position. In the last 90 days, insiders have sold 134,422 shares of company stock worth $7,695,879. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ABX shares. Citigroup lowered their target price on Barrick Gold from C$48.00 to C$41.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Sanford C. Bernstein raised their price objective on Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th. Barclays cut their price target on Barrick Gold from C$56.00 to C$55.00 in a report on Thursday, July 16th. National Bank Financial decreased their price target on shares of Barrick Gold from C$75.00 to C$67.50 and set an “outperform” rating on the stock in a research note on Tuesday, July 14th. Finally, BMO Capital Markets boosted their price objective on Barrick Gold from C$55.00 to C$65.00 in a report on Wednesday, April 22nd. Four investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Barrick Gold has an average rating of “Buy” and an average target price of C$70.23.

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.