Sanford C. Bernstein Raises Barrick Gold (TSE:ABX) Price Target to C$91.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target boosted by equities research analysts at Sanford C. Bernstein from C$86.00 to C$91.00 in a report issued on Monday,BayStreet.CA reports. Sanford C. Bernstein’s target price would suggest a potential upside of 55.80% from the stock’s previous close.

A number of other research firms also recently issued reports on ABX. National Bank Financial dropped their price objective on shares of Barrick Gold from C$75.00 to C$72.50 and set an “outperform” rating for the company in a report on Friday. ATB Cormark Capital Markets downgraded shares of Barrick Gold from a “moderate buy” rating to a “hold” rating and lifted their price objective for the stock from C$70.00 to C$75.00 in a report on Tuesday, April 7th. JPMorgan Chase & Co. lifted their price objective on shares of Barrick Gold from C$89.00 to C$91.00 in a report on Wednesday, February 25th. DZ Bank raised shares of Barrick Gold to a “strong-buy” rating in a report on Monday, January 19th. Finally, Stifel Nicolaus lifted their price objective on shares of Barrick Gold from C$65.00 to C$95.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Five research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$77.56.

Barrick Gold Price Performance

Shares of TSE ABX traded down C$0.94 during mid-day trading on Monday, reaching C$58.41. 1,106,318 shares of the company were exchanged, compared to its average volume of 6,466,043. Barrick Gold has a 52 week low of C$24.29 and a 52 week high of C$74.00. The company has a quick ratio of 2.62, a current ratio of 2.92 and a debt-to-equity ratio of 17.89. The stock has a market capitalization of C$97.87 billion, a PE ratio of 19.94, a PEG ratio of 2.34 and a beta of 1.61. The company’s 50 day moving average price is C$60.56 and its 200 day moving average price is C$58.03.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings data on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share (EPS) for the quarter. Barrick Gold had a net margin of 29.39% and a return on equity of 19.79%. The company had revenue of C$8.01 billion during the quarter. Sell-side analysts forecast that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Graham Patrick Shuttleworth sold 100,000 shares of Barrick Gold stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of C$64.72, for a total value of C$6,472,000.00. Following the transaction, the insider owned 487,252 shares in the company, valued at C$31,534,949.44. This trade represents a 17.03% decrease in their position. Also, Director Pekka Juhani Vauramo bought 12,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was acquired at an average price of C$65.41 per share, for a total transaction of C$811,084.00. Following the transaction, the director owned 12,400 shares in the company, valued at C$811,084. This trade represents a ? increase in their ownership of the stock. 0.60% of the stock is owned by company 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.