BMO Capital Markets Raises Barrick Gold (TSE:ABX) Price Target to C$65.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price raised by investment analysts at BMO Capital Markets from C$55.00 to C$65.00 in a note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 16.72% from the company’s previous close.

Several other equities analysts also recently weighed in on the company. ATB Cormark Capital Markets downgraded Barrick Gold from a “moderate buy” rating to a “hold” rating and lifted their target price for the company from C$70.00 to C$75.00 in a research report on Tuesday, April 7th. JPMorgan Chase & Co. raised their price target on Barrick Gold from C$89.00 to C$91.00 in a report on Wednesday, February 25th. DZ Bank raised Barrick Gold to a “strong-buy” rating in a report on Monday, January 19th. National Bank Financial decreased their price target on Barrick Gold from C$75.00 to C$72.50 and set an “outperform” rating on the stock in a report on Friday, April 17th. Finally, Canaccord Genuity Group decreased their price target on Barrick Gold from C$80.00 to C$77.00 in a report on Wednesday, February 18th. Five equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$80.56.

Barrick Gold Stock Performance

TSE ABX traded up C$0.34 on Wednesday, hitting C$55.69. 826,425 shares of the company traded hands, compared to its average volume of 6,396,320. The company has a market capitalization of C$93.31 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 2.34 and a beta of 1.61. The company has a current ratio of 2.92, a quick ratio of 2.62 and a debt-to-equity ratio of 17.89. The business’s 50 day moving average price is C$60.30 and its 200-day moving average price is C$58.17. Barrick Gold has a 52-week low of C$24.29 and a 52-week high of C$74.00.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its earnings results on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share for the quarter. The company had revenue of C$8.01 billion for the quarter. Barrick Gold had a return on equity of 19.79% and a net margin of 29.39%. Equities analysts expect that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insider Activity

In other news, insider Graham Patrick Shuttleworth sold 100,000 shares of Barrick Gold stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of C$64.72, for a total value of C$6,472,000.00. Following the sale, the insider directly owned 487,252 shares of the company’s stock, valued at approximately C$31,534,949.44. The trade was a 17.03% decrease in their ownership of the stock. Also, Director Pekka Juhani Vauramo bought 12,400 shares of Barrick Gold stock in a transaction dated Thursday, February 12th. The stock was purchased at an average cost of C$65.41 per share, for a total transaction of C$811,084.00. Following the completion of the acquisition, the director directly owned 12,400 shares of the company’s stock, valued at approximately C$811,084. The trade was a ∞ increase in their position. 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.