Barrick Gold (TSE:ABX) Stock Gets Price Target Cut from Stifel Nicolaus

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price reduced by analysts at Stifel Nicolaus from C$90.00 to C$84.00 in a report released on Monday, BayStreet reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 46.52% from the stock’s previous close.

A number of other brokerages have also issued reports on ABX. Royal Bank Of Canada cut 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. Raymond James Financial reduced their price target on Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. Barclays raised their target price on Barrick Gold from C$55.00 to C$58.00 in a research note on Thursday, August 13th. National Bank Financial increased their target price on shares of Barrick Gold from C$67.50 to C$70.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Finally, Canaccord Genuity Group upped their price objective on shares of Barrick Gold from C$68.00 to C$73.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Three analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average target price of C$66.75.

Barrick Gold Price Performance

ABX traded down C$0.41 during midday trading on Monday, hitting C$57.33. The stock had a trading volume of 1,055,760 shares, compared to its average volume of 5,210,177. The business has a fifty day moving average of C$59.99 and a 200 day moving average of C$57.14. Barrick Gold has a 1 year low of C$42.62 and a 1 year high of C$74.00. The company has a market cap of C$94.36 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 2.34 and a beta of 1.63. The company has a debt-to-equity ratio of 17.15, a quick ratio of 2.62 and a current ratio of 3.01.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Monday, August 10th. The basic materials company reported C$1.17 earnings per share (EPS) for the quarter. Barrick Gold had a return on equity of 24.57% and a net margin of 31.60%. The company had revenue of C$6.06 billion for the quarter. As a group, equities analysts forecast that Barrick Gold will post 2.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sarah Anna Ball Teslik bought 12,613 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was bought at an average price of C$67.27 per share, with a total value of C$848,476.51. Following the completion of the transaction, the insider directly owned 12,613 shares of the company’s stock, valued at approximately C$848,476.51. This represents a ∞ increase in their ownership of the stock. Also, Director Mark Francis Hill sold 174,778 shares of the business’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of C$59.47, for a total value of C$10,394,047.66. Following the completion of the transaction, the director owned 125,914 shares in the company, valued at approximately C$7,488,105.58. This trade represents a 58.13% decrease in their position. 0.60% of the stock is owned by 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.