ATB Cormark Capital Markets Cuts Barrick Gold (TSE:ABX) Price Target to C$57.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target cut by ATB Cormark Capital Markets from C$60.00 to C$57.00 in a research note released on Tuesday,BayStreet.CA reports. They currently have a sector perform rating on the basic materials company’s stock.

A number of other brokerages have also commented on ABX. Royal Bank Of Canada dropped their price target on Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. JPMorgan Chase & Co. reduced their price objective on shares of Barrick Gold from C$91.00 to C$79.00 in a research report on Thursday, April 23rd. Citigroup decreased their price objective on shares of Barrick Gold from C$48.00 to C$41.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Sanford C. Bernstein raised their target price on shares of Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th. Finally, Barclays cut their target price on shares of Barrick Gold from C$56.00 to C$55.00 in a research note on Thursday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Barrick Gold currently has a consensus rating of “Buy” and a consensus target price of C$68.00.

Barrick Gold Trading Down 0.7%

ABX opened at C$57.08 on Tuesday. Barrick Gold has a one year low of C$32.34 and a one year high of C$74.00. The company has a debt-to-equity ratio of 17.15, a current ratio of 3.01 and a quick ratio of 2.62. The business has a 50 day simple moving average of C$53.81 and a two-hundred day simple moving average of C$57.82. The firm has a market capitalization of C$95.64 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 2.34 and a beta of 1.60.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 earnings per share for the quarter. Barrick Gold had a return on equity of 24.45% and a net margin of 31.63%.The firm had revenue of C$6.06 billion for the quarter. Analysts predict that Barrick Gold will post 2.2422764 EPS for the current year.

Insider Buying and Selling

In related news, Director Mark Francis Hill sold 88,000 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of C$57.85, for a total value of C$5,090,800.00. Following the sale, the director directly owned 380,598 shares of the company’s stock, valued at C$22,017,594.30. This represents a 18.78% decrease in their ownership of the stock. Also, Director Robert Ananda Paul Samek purchased 10,000 shares of Barrick Gold stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of C$55.06 per share, for a total transaction of C$550,600.00. Following the completion of the purchase, the director owned 18,900 shares of the company’s stock, valued at C$1,040,634. This trade represents a 112.36% increase in their ownership of the stock. In the last 90 days, insiders sold 134,422 shares of company stock valued at $7,695,879. 0.60% of the stock is currently owned by company insiders.

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.