Barrick Gold Co. (TSE:ABX) Receives C$68.00 Average Price Target from Analysts

Shares of Barrick Gold Co. (TSE:ABX – Get Free Report) (NYSE:ABX) have earned a consensus recommendation of “Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$67.67.

A number of brokerages recently weighed in on ABX. Barclays increased their price target on shares of Barrick Gold from C$55.00 to C$58.00 in a research report on Thursday, August 13th. Citigroup lowered their target price on shares of Barrick Gold from C$48.00 to C$41.00 and set a “neutral” rating for the company in a research note on Monday, July 27th. Canaccord Genuity Group increased their target price on shares of Barrick Gold from C$68.00 to C$73.00 and gave the stock a “buy” rating in a report on Tuesday. Raymond James Financial reduced their price target on shares of Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Finally, ATB Cormark Capital Markets decreased their price target on shares of Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating for the company in a report on Tuesday, August 11th.

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Insider Activity at Barrick Gold

In other Barrick Gold news, insider Sarah Anna Ball Teslik acquired 12,613 shares of the stock in a transaction dated Friday, August 21st. The shares were bought at an average cost of C$67.27 per share, for a total transaction of C$848,476.51. Following the completion of the acquisition, the insider directly owned 12,613 shares of the company’s stock, valued at approximately C$848,476.51. This trade represents a ∞ increase in their ownership of the stock. Also, Director Mark Francis Hill sold 9,453 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of C$56.85, for a total transaction of C$537,403.05. Following the sale, the director directly owned 334,176 shares in the company, valued at C$18,997,905.60. This trade represents a 2.75% decrease in their ownership of the stock. Insiders sold 121,874 shares of company stock worth $7,735,061 over the last three months. 0.60% of the stock is currently owned by insiders.

Barrick Gold Stock Performance

Shares of TSE:ABX opened at C$65.59 on Friday. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 17.15. Barrick Gold has a 1-year low of C$35.97 and a 1-year high of C$74.00. The stock has a market capitalization of C$109.90 billion, a P/E ratio of 16.95, a P/E/G ratio of 2.34 and a beta of 1.60. The business has a 50-day moving average price of C$55.22 and a two-hundred day moving average price of C$57.61.

Barrick Gold (TSE:ABX – Get Free Report) (NYSE:ABX) last issued its earnings results on Monday, August 10th. The basic materials company reported C$1.17 EPS for the quarter. The company had revenue of C$6.06 billion during the quarter. Barrick Gold had a net margin of 31.60% and a return on equity of 24.57%. Equities analysts predict that Barrick Gold will post 2.2422764 earnings per share for the current year.

About Barrick Gold

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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.

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