Canaccord Genuity Group Issues Positive Forecast for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target raised by stock analysts at Canaccord Genuity Group from C$68.00 to C$73.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 8.83% from the company’s current price.

Several other research firms also recently weighed in on ABX. National Bank Financial lifted their price target on shares of Barrick Gold from C$67.50 to C$70.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Raymond James Financial reduced their target price on Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. Royal Bank Of Canada dropped their price target on Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Barclays raised their price objective on Barrick Gold from C$55.00 to C$58.00 in a research note on Thursday, August 13th. Finally, Citigroup lowered their target price on Barrick Gold from C$48.00 to C$41.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$67.67.

Barrick Gold Trading Up 0.7%

ABX traded up C$0.45 during trading on Tuesday, hitting C$67.08. The company’s stock had a trading volume of 1,260,795 shares, compared to its average volume of 5,523,793. Barrick Gold has a twelve month low of C$35.97 and a twelve month high of C$74.00. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 17.15. The stock’s fifty day moving average price is C$54.77 and its 200-day moving average price is C$57.54. The firm has a market capitalization of C$112.39 billion, a P/E ratio of 17.33, a PEG ratio of 2.34 and a beta of 1.60.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data 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%. Analysts anticipate that Barrick Gold will post 2.2422764 EPS for the current year.

Insider Buying and Selling at Barrick Gold

In related news, Director Robert Ananda Paul Samek acquired 10,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of C$55.06 per share, for a total transaction of C$550,600.00. Following the purchase, the director owned 18,900 shares in the company, valued at approximately C$1,040,634. The trade was a 112.36% increase in their ownership of the stock. Also, 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 transaction of C$5,090,800.00. Following the completion of the sale, the director owned 380,598 shares of the company’s stock, valued at approximately C$22,017,594.30. The trade was a 18.78% decrease in their position. Over the last 90 days, insiders have sold 134,422 shares of company stock worth $7,695,879. 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.