Barrick Gold (TSE:ABX) Stock Rating Cut to "Hold" at Freedom Broker

Key Points

• Freedom Broker downgraded Barrick Gold from “strong buy” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average target price of C$66.27.
• Barrick shares opened at C$53.36, below their 50-day and 200-day moving averages, and have traded between C$43.33 and C$74.00 over the past year.
• The company reported quarterly EPS of C$1.17 and revenue of C$6.06 billion, with a 31.60% net margin and 24.57% return on equity; insider activity was mixed, with one insider buying shares and a director selling a substantial stake.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX was downgraded by equities research analysts at Freedom Broker from a "strong-buy" rating to a "hold" rating in a research report issued on Thursday, Zacks reports.

A number of other research firms also recently commented on ABX. Citigroup raised shares of Barrick Gold to a "hold" rating in a research report on Thursday, September 3rd. Raymond James Financial dropped 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. ATB Cormark Capital Markets cut their price objective on Barrick Gold from C$60.00 to C$57.00 and set a "sector perform" rating for the company in a report on Tuesday, August 11th. Canaccord Genuity Group upped 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. Finally, Stifel Nicolaus lowered their target price on Barrick Gold from C$90.00 to C$84.00 and set a "buy" rating on the stock in a report on Monday, October 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$66.27.

Barrick Gold Price Performance

Shares of TSE:ABX opened at C$53.36 on Thursday. The business has a 50-day simple moving average of C$59.85 and a two-hundred day simple moving average of C$57.07. The company has a debt-to-equity ratio of 17.15, a quick ratio of 2.62 and a current ratio of 3.01. The firm has a market cap of C$87.82 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 2.34 and a beta of 1.63. Barrick Gold has a fifty-two week low of C$43.33 and a fifty-two week high of C$74.00.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last announced 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 firm had revenue of C$6.06 billion during the quarter. On average, analysts expect that Barrick Gold will post 2.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Sarah Anna Ball Teslik acquired 12,613 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were purchased at an average cost 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 trade represents a ∞ increase in their ownership of the stock. Also, Director Mark Francis Hill sold 174,778 shares of Barrick Gold stock in a transaction on Friday, September 25th. The shares were sold at an average price of C$59.47, for a total transaction of C$10,394,047.66. Following 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. Company insiders own 0.60% of the company's stock.

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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