Barrick Gold (TSE:ABX) Upgraded by Scotiabank to Strong-Buy Rating

Barrick Gold (TSE:ABX) (NYSE:ABX) was upgraded by investment analysts at Scotiabank from a “hold” rating to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other research firms have also recently commented on ABX. Canaccord Genuity Group boosted their target price on Barrick Gold from C$39.00 to C$57.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Stifel Nicolaus boosted their price target on Barrick Gold from C$46.00 to C$65.00 in a research report on Monday. National Bank Financial raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Cormark boosted their price target on Barrick Gold from C$35.00 to C$45.00 in a research report on Thursday, September 18th. Finally, National Bankshares boosted their price target on Barrick Gold from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Five research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$46.38.

Barrick Gold Trading Up 1.3%

TSE ABX opened at C$44.67 on Thursday. The stock has a market capitalization of C$76.21 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.34 and a beta of 1.06. The stock’s 50 day moving average price is C$42.26 and its two-hundred day moving average price is C$32.92. The company has a debt-to-equity ratio of 19.83, a quick ratio of 2.62 and a current ratio of 2.65. Barrick Gold has a 52 week low of C$21.73 and a 52 week high of C$51.09.

Insiders Place Their Bets

In related news, insider Joel James Holliday sold 13,588 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of C$40.38, for a total transaction of C$548,735.07. Following the transaction, the insider directly owned 84,087 shares of the company’s stock, valued at approximately C$3,395,752.59. The trade was a 13.91% decrease in their position. Also, insider Rousseau Jooste sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of C$40.70, for a total value of C$122,112.00. Following the transaction, the insider directly owned 58,237 shares in the company, valued at C$2,370,478.85. The trade was a 4.90% decrease in their ownership of the stock. Insiders sold a total of 62,990 shares of company stock valued at $2,580,075 over the last 90 days. 0.60% of the stock is owned by insiders.

Barrick Gold Company Profile

Barrick Gold Corp is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.