Barrick Gold (TSE:ABX) Stock Price Target Lowered at National Bank Financial

Key Points

• National Bank Financial lowered Barrick Gold’s price target to C$72.50 from C$75.00 but maintained an “outperform” rating, implying approximately 27% upside from the current price.
• Analyst sentiment remains favorable, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of C$66.27.
• Barrick reported C$1.17 in quarterly EPS on C$6.06 billion in revenue, while insiders recently sold shares; insider ownership stands at 0.60%.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its price objective reduced by equities research analysts at National Bank Financial from C$75.00 to C$72.50 in a note issued to investors on Tuesday, BayStreet reports. The firm presently has an "outperform" rating on the basic materials company's stock. National Bank Financial's target price would indicate a potential upside of 27.06% from the company's current price.

Several other analysts have also recently weighed in on ABX. ATB Cormark Capital Markets dropped their price objective on shares of Barrick Gold from C$60.00 to C$57.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 11th. Barclays increased their target price on shares of Barrick Gold from C$55.00 to C$58.00 in a research report on Thursday, August 13th. Citigroup upgraded shares of Barrick Gold to a "hold" rating in a research report on Thursday, September 3rd. TD lowered their target price on shares of Barrick Gold from C$59.00 to C$58.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Raymond James Financial dropped their price target on shares of 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. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$66.27.

Barrick Gold Stock Performance

Shares of Barrick Gold stock traded down C$0.06 during trading on Tuesday, reaching C$57.06. The company's stock had a trading volume of 1,246,733 shares, compared to its average volume of 5,196,398. The business's 50-day moving average price is C$59.99 and its 200-day moving average price is C$57.14. The firm has a market cap of C$93.91 billion, a PE ratio of 14.74, a P/E/G ratio of 2.34 and a beta of 1.63. Barrick Gold has a 52 week low of C$42.62 and a 52 week 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.

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

Insider Transactions at Barrick Gold

In other news, Director Mark Francis Hill sold 174,778 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of C$59.47, for a total transaction of C$10,394,047.66. Following the sale, the director directly owned 125,914 shares of the company's stock, valued at approximately C$7,488,105.58. This represents a 58.13% decrease in their position. Also, insider Darian Kevin Rich sold 75,452 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of C$67.99, for a total value of C$5,129,981.48. Following the completion of the transaction, the insider owned 235,252 shares in the company, valued at C$15,994,783.48. The trade was a 24.28% decrease in their position. 0.60% of the stock is currently owned by 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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