Barrick Gold (TSE:ABX) Rating Increased to Hold at Citigroup

Key Points

• Citigroup upgraded Barrick Gold to “Hold,” while the broader analyst consensus remains “Buy,” with an average price target of C$67.67.
• Barrick Gold shares opened at C$63.03 after rising 3.1%; the company reported quarterly earnings of C$1.17 per share on C$6.06 billion in revenue, with a 31.6% net margin.
• Insider activity was mixed: a director sold 9,453 shares, while insider Sarah Anna Ball Teslik purchased 12,613 shares; insiders collectively own 0.60% of the company.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX was upgraded by research analysts at Citigroup to a "hold" rating in a research note issued to investors on Thursday, Zacks reports.

Several other brokerages have also recently commented on ABX. National Bank Financial boosted their target price on shares of Barrick Gold from C$67.50 to C$70.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. ATB Cormark Capital Markets reduced their price target on shares of Barrick Gold from C$60.00 to C$57.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 11th. Barclays lifted their price objective on shares of Barrick Gold from C$55.00 to C$58.00 in a research note on Thursday, August 13th. Raymond James Financial cut 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. Finally, Canaccord Genuity Group raised their target price on Barrick Gold from C$68.00 to C$73.00 and gave the company a "buy" rating in a report on Tuesday, August 25th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Barrick Gold presently has a consensus rating of "Buy" and an average price target of C$67.67.

Barrick Gold Stock Up 3.1%

Shares of TSE ABX opened at C$63.03 on Thursday. The stock has a market capitalization of C$105.61 billion, a P/E ratio of 16.29, a PEG ratio of 2.34 and a beta of 1.60. The stock's fifty day moving average is C$56.00 and its 200 day moving average is C$57.55. Barrick Gold has a 52 week low of C$37.09 and a 52 week high of C$74.00. 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 - Get Free Report) NYSE: ABX last posted its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 earnings per share for the quarter. The business 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%. Sell-side analysts forecast that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

Insider Activity at Barrick Gold

In related news, Director Mark Francis Hill sold 9,453 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of C$56.85, for a total value of C$537,403.05. Following the completion of the transaction, the director owned 334,176 shares of the company's stock, valued at C$18,997,905.60. This represents a 2.75% decrease in their position. Also, insider Sarah Anna Ball Teslik bought 12,613 shares of the business's stock in a transaction on Friday, August 21st. The stock was bought at an average price of C$67.27 per share, for a total transaction of C$848,476.51. Following 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. In the last three months, insiders have sold 121,874 shares of company stock valued at $7,735,061. 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.

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