Barrick Gold (TSE:ABX) Price Target Raised to C$58.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price increased by Barclays from C$55.00 to C$58.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports.

Several other brokerages have also recently issued reports on ABX. Sanford C. Bernstein increased their price objective on Barrick Gold from C$86.00 to C$91.00 in a research note on Monday, April 20th. BMO Capital Markets lifted their target price on Barrick Gold from C$55.00 to C$65.00 in a research report on Wednesday, April 22nd. ATB Cormark Capital Markets decreased their target price on Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 11th. Raymond James Financial lowered their target price on Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Finally, National Bank Financial increased their price target on Barrick Gold from C$67.50 to C$70.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$68.00.

Barrick Gold Trading Up 1.3%

ABX stock opened at C$57.80 on Thursday. Barrick Gold has a 12 month low of C$32.34 and a 12 month high of C$74.00. The firm’s 50-day moving average is C$53.87 and its 200 day moving average is C$57.82. The company has a market capitalization of C$96.84 billion, a PE ratio of 14.94, a P/E/G ratio of 2.34 and a beta of 1.60. The company has a debt-to-equity ratio of 17.15, a current ratio of 3.01 and a quick ratio of 2.62.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 earnings per share (EPS) for the quarter. The company had revenue of C$6.06 billion during the quarter. Barrick Gold had a net margin of 31.63% and a return on equity of 24.45%. On average, research analysts anticipate that Barrick Gold will post 2.2422764 EPS for the current year.

Insider Buying and Selling at Barrick Gold

In other news, 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 completion of the sale, the director owned 380,598 shares in the company, valued at approximately C$22,017,594.30. This represents a 18.78% decrease in their position. Also, Director Robert Ananda Paul Samek acquired 10,000 shares of the stock in a transaction dated Friday, June 5th. The stock was acquired at an average cost of C$55.06 per share, with a total value of C$550,600.00. Following the transaction, the director directly owned 18,900 shares in the company, valued at approximately C$1,040,634. This represents a 112.36% increase in their ownership of the stock. Insiders sold 134,422 shares of company stock worth $7,695,879 over the last ninety days. 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.