Barrick Gold (TSE:ABX) Given New C$55.00 Price Target at Barclays

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective reduced by equities research analysts at Barclays from C$56.00 to C$55.00 in a research note issued on Thursday,BayStreet.CA reports. Barclays‘s price target suggests a potential upside of 12.45% from the company’s current price.

ABX has been the topic of several other reports. ATB Cormark Capital Markets downgraded Barrick Gold from a “moderate buy” rating to a “hold” rating and raised their price target for the company from C$70.00 to C$75.00 in a research report on Tuesday, April 7th. Royal Bank Of Canada decreased their price objective on shares of Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. National Bank Financial dropped their target price on Barrick Gold from C$75.00 to C$67.50 and set an “outperform” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Barrick Gold from C$91.00 to C$79.00 in a research note on Thursday, April 23rd. Finally, Sanford C. Bernstein upped their target price on shares of Barrick Gold from C$86.00 to C$91.00 in a research note on Monday, April 20th. Five equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$73.15.

Barrick Gold Price Performance

Shares of TSE:ABX traded down C$1.53 during trading on Thursday, reaching C$48.91. The company had a trading volume of 1,569,705 shares, compared to its average volume of 5,736,055. The firm’s fifty day moving average is C$55.82 and its 200 day moving average is C$59.60. The firm has a market capitalization of C$81.95 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60. Barrick Gold has a twelve month low of C$28.22 and a twelve month high of C$74.00. The company has a debt-to-equity ratio of 17.29, a quick ratio of 2.62 and a current ratio of 3.06.

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

Insiders Place Their Bets

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

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.