Barrick Gold Co. (TSE:ABX) Receives Consensus Recommendation of “Buy” from Brokerages

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) has been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and five have given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$74.00.

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein upped their price objective on shares of Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th. JPMorgan Chase & Co. dropped their target price on Barrick Gold from C$91.00 to C$79.00 in a research report on Thursday, April 23rd. ATB Cormark Capital Markets cut Barrick Gold from a “moderate buy” rating to a “hold” rating and boosted their price target for the stock from C$70.00 to C$75.00 in a research note on Tuesday, April 7th. National Bank Financial increased their price target on Barrick Gold from C$72.50 to C$75.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Finally, BMO Capital Markets raised their price objective on Barrick Gold from C$55.00 to C$65.00 in a research note on Wednesday, April 22nd.

Barrick Gold Stock Down 0.6%

Shares of TSE ABX traded down C$0.32 during trading on Friday, reaching C$51.90. 1,917,174 shares of the stock were exchanged, compared to its average volume of 5,813,485. The business’s 50-day moving average price is C$56.03 and its 200 day moving average price is C$59.86. Barrick Gold has a twelve month low of C$28.22 and a twelve month high of C$74.00. The company has a quick ratio of 2.62, a current ratio of 3.06 and a debt-to-equity ratio of 17.29. The company has a market capitalization of C$86.96 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Monday, May 11th. The basic materials company reported C$1.36 earnings per share for the quarter. Barrick Gold had a net margin of 32.04% and a return on equity of 23.48%. The business had revenue of C$5.81 billion during the quarter. As a group, equities analysts forecast that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Insider Activity at Barrick Gold

In related news, Director Mark Francis Hill sold 88,000 shares of Barrick Gold stock in a transaction on Thursday, May 28th. The shares were sold at an average price of C$57.85, for a total value of C$5,090,800.00. Following the completion of the sale, the director owned 380,598 shares in the company, valued at approximately C$22,017,594.30. The trade was a 18.78% decrease in their ownership of the stock. Also, Director Robert Ananda Paul Samek purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of C$55.06 per share, for a total transaction of C$550,600.00. Following the completion of the acquisition, the director directly owned 18,900 shares of the company’s stock, valued at C$1,040,634. This represents a 112.36% increase in their ownership of the stock. Over the last quarter, insiders have sold 134,422 shares of company stock valued at $7,695,879. Company insiders own 0.60% of the company’s stock.

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.