Sanford C. Bernstein Forecasts Strong Price Appreciation for Barrick Gold (TSE:ABX) Stock

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target hoisted by investment analysts at Sanford C. Bernstein from C$84.00 to C$86.00 in a report issued on Friday,BayStreet.CA reports. Sanford C. Bernstein’s price target suggests a potential upside of 24.71% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Cormark increased their price objective on Barrick Gold from C$66.00 to C$78.00 in a report on Tuesday, November 25th. JPMorgan Chase & Co. upped their price objective on Barrick Gold from C$89.00 to C$91.00 in a report on Wednesday. Stifel Nicolaus increased their target price on shares of Barrick Gold from C$65.00 to C$95.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. DZ Bank raised Barrick Gold to a “strong-buy” rating in a research note on Monday, January 19th. Finally, Canaccord Genuity Group cut their price target on Barrick Gold from C$80.00 to C$77.00 in a report on Wednesday, February 18th. Six equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$79.63.

Barrick Gold Stock Up 0.1%

TSE ABX traded up C$0.08 on Friday, hitting C$68.96. 1,242,506 shares of the stock were exchanged, compared to its average volume of 6,531,225. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. The company has a 50-day moving average price of C$65.36 and a 200-day moving average price of C$52.96. The company has a market cap of C$115.53 billion, a PE ratio of 23.54, a PEG ratio of 2.34 and a beta of 1.47. Barrick Gold has a fifty-two week low of C$24.28 and a fifty-two week high of C$74.00.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its earnings results on Thursday, February 5th. The basic materials company reported C$1.43 EPS for the quarter. Barrick Gold had a return on equity of 6.90% and a net margin of 13.19%.The firm had revenue of C$8.01 billion for the quarter. Sell-side analysts anticipate that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Insider Activity at Barrick Gold

In related news, Director Pekka Juhani Vauramo bought 12,400 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average cost of C$65.41 per share, for a total transaction of C$811,084.00. Following the acquisition, the director owned 12,400 shares in the company, valued at C$811,084. This represents a ∞ increase in their position. Also, insider Graham Patrick Shuttleworth sold 100,000 shares of Barrick Gold stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of C$64.72, for a total transaction of C$6,472,000.00. Following the sale, the insider owned 487,252 shares in the company, valued at C$31,534,949.44. This represents a 17.03% 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.