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

Key Points

• Stifel Nicolaus lowered Barrick Gold’s price target from C$90 to C$84 while maintaining a “buy” rating, implying 46.52% potential upside from the current price.
• Analyst sentiment remains positive overall, with Barrick holding a “Moderate Buy” consensus rating and an average target price of C$66.75.
• Barrick shares traded at C$57.33, while the company reported C$1.17 in quarterly EPS, C$6.06 billion in revenue, and a 31.60% net margin; two insiders also recently sold significant portions of their holdings.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its price objective lowered by Stifel Nicolaus from C$90.00 to C$84.00 in a research report issued to clients and investors on Monday, BayStreet reports. The firm presently has a "buy" rating on the basic materials company's stock. Stifel Nicolaus' price objective points to a potential upside of 46.52% from the company's current price.

Several other equities research analysts have also issued reports on the company. Citigroup upgraded Barrick Gold to a "hold" rating in a report on Thursday, September 3rd. Canaccord Genuity Group increased their price objective on Barrick Gold from C$68.00 to C$73.00 and gave the company a "buy" rating in a research report on Tuesday, August 25th. Raymond James Financial lowered their price target on Barrick Gold from C$58.00 to C$56.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Canadian Imperial Bank of Commerce cut shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Finally, ATB Cormark Capital Markets decreased their price objective 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 note on Tuesday, August 11th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of C$66.75.

Barrick Gold Stock Performance

Shares of TSE:ABX traded down C$0.41 during trading hours 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. Barrick Gold has a 1-year low of C$42.62 and a 1-year high of C$74.00. The firm has a market capitalization of C$94.36 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 2.34 and a beta of 1.63. The stock's fifty day simple moving average is C$59.99 and its 200 day simple moving average is C$57.14. 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 EPS for the quarter. The business had revenue of C$6.06 billion for the quarter. Barrick Gold had a net margin of 31.60% and a return on equity of 24.57%. Sell-side analysts anticipate that Barrick Gold will post 2.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark Francis Hill sold 174,778 shares of the firm's stock in a transaction on Friday, September 25th. The shares were 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 directly owned 125,914 shares of the company's stock, valued at approximately C$7,488,105.58. This trade represents a 58.13% decrease in their ownership of the stock. Also, insider Darian Kevin Rich sold 75,452 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of C$67.99, for a total transaction of C$5,129,981.48. Following the sale, the insider owned 235,252 shares of the company's stock, valued at approximately C$15,994,783.48. This represents a 24.28% decrease in their position. 0.60% of the stock is currently owned by corporate 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.

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