Royal Bank of Canada Increases Barrick Gold (TSE:ABX) Price Target to C$19.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective lifted by Royal Bank of Canada to C$19.00 in a research report released on Wednesday morning,Stock Target Advisor reports. The firm currently has a buy rating on the basic materials company’s stock.

Several other research analysts also recently weighed in on ABX. Sanford C. Bernstein reduced their price target on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. Scotiabank downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Canaccord Genuity Group reduced their price target on shares of Barrick Gold from C$33.50 to C$30.00 in a research report on Wednesday, January 15th. Finally, National Bankshares dropped their price objective on shares of Barrick Gold from C$26.00 to C$24.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of C$30.23.

Barrick Gold Stock Up 6.3 %

ABX opened at C$25.97 on Wednesday. Barrick Gold has a twelve month low of C$18.65 and a twelve month high of C$29.50. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. The company has a 50-day moving average price of C$23.22 and a 200 day moving average price of C$25.22. The company has a market cap of C$45.45 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48.

Insider Transactions at Barrick Gold

In other news, Senior Officer Poupak Bahamin sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of C$24.49, for a total transaction of C$61,215.00. Also, Director Dennis Mark Bristow purchased 85,296 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average price of C$25.03 per share, with a total value of C$2,135,291.53. Insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.