Barrick Gold (TSE:ABX) Upgraded at Citigroup

Barrick Gold (TSE:ABX) (NYSE:ABX) was upgraded by stock analysts at Citigroup to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Several other equities analysts also recently issued reports on the stock. ATB Cormark Capital Markets dropped their price target on shares of 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. Raymond James Financial reduced their price objective on shares of Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 11th. Barclays increased their price objective on Barrick Gold from C$55.00 to C$58.00 in a report on Thursday, August 13th. National Bank Financial raised their target price 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. Finally, Royal Bank Of Canada cut their target price on Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$67.67.

Barrick Gold Stock Performance

TSE:ABX opened at C$63.03 on Thursday. The stock’s 50-day moving average is C$56.00 and its 200-day moving average is C$57.55. Barrick Gold has a 1-year low of C$37.09 and a 1-year high of C$74.00. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 17.15. The stock has a market cap of C$105.61 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 earnings per share (EPS) for the quarter. Barrick Gold had a net margin of 31.60% and a return on equity of 24.57%. The business had revenue of C$6.06 billion during the quarter. Equities research analysts anticipate that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Darian Kevin Rich sold 75,452 shares of Barrick Gold stock in a transaction on 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 trade represents a 24.28% decrease in their ownership of the stock. Also, insider Sarah Anna Ball Teslik bought 12,613 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was purchased at an average price of C$67.27 per share, for a total transaction of C$848,476.51. Following the acquisition, the insider owned 12,613 shares of the company’s stock, valued at C$848,476.51. This trade represents a ? increase in their ownership of the stock. Insiders sold 121,874 shares of company stock valued at $7,735,061 over the last quarter. Insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

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.