JPMorgan Chase & Co. Has Lowered Expectations for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target reduced by stock analysts at JPMorgan Chase & Co. from C$91.00 to C$79.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 43.87% from the stock’s previous close.

Other analysts also recently issued reports about the company. Stifel Nicolaus increased their price objective on Barrick Gold from C$65.00 to C$95.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Sanford C. Bernstein increased their price objective on Barrick Gold from C$86.00 to C$91.00 in a report on Monday. BMO Capital Markets increased their price target on Barrick Gold from C$55.00 to C$65.00 in a report on Wednesday. National Bank Financial decreased their price target on Barrick Gold from C$75.00 to C$72.50 and set an “outperform” rating for the company 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 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, Barrick Gold presently has an average rating of “Buy” and an average price target of C$79.06.

Barrick Gold Trading Down 1.4%

TSE ABX traded down C$0.76 on Thursday, reaching C$54.91. The company had a trading volume of 1,045,863 shares, compared to its average volume of 6,336,908. The firm has a market cap of C$92.00 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 2.34 and a beta of 1.61. Barrick Gold has a fifty-two week low of C$24.29 and a fifty-two week high of C$74.00. The business has a 50 day moving average of C$60.11 and a two-hundred day moving average of C$58.15. The company has a debt-to-equity ratio of 17.89, a current ratio of 2.92 and a quick ratio of 2.62.

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 for the quarter. The business had revenue of C$8.01 billion during the quarter. Barrick Gold had a return on equity of 19.79% and a net margin of 29.39%. Analysts forecast that Barrick Gold will post 2.2422764 EPS for the current year.

Insider Transactions at Barrick Gold

In other Barrick Gold news, Director Pekka Juhani Vauramo purchased 12,400 shares of the firm’s stock in a transaction on 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 acquisition, the director owned 12,400 shares in the company, valued at approximately C$811,084. The trade was a ∞ increase in their position. Also, insider Graham Patrick Shuttleworth sold 100,000 shares of the 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 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. Company 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.