TD Has Lowered Expectations for Barrick Gold (TSE:ABX) Stock Price

Key Points

• TD lowered Barrick Gold’s price target from C$59 to C$58 while maintaining a “buy” rating, implying 1.65% upside from the previous close.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of C$66.27, despite mixed target-price adjustments from other firms.
• Barrick shares traded near C$57.06, while the company reported C$1.17 in quarterly EPS, C$6.06 billion in revenue, and a 31.60% net margin; recent insider activity included both a sizable purchase and sale.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its price objective decreased by equities researchers at TD from C$59.00 to C$58.00 in a research report issued to clients and investors on Tuesday, BayStreet reports. The brokerage presently has a "buy" rating on the basic materials company's stock. TD's price objective suggests a potential upside of 1.65% from the stock's previous close.

Other analysts have also recently issued reports about the stock. Canaccord Genuity Group upped their target price on shares of Barrick Gold from C$68.00 to C$73.00 and gave the company a "buy" rating in a report on Tuesday, August 25th. Stifel Nicolaus dropped their price target on shares of Barrick Gold from C$90.00 to C$84.00 and set a "buy" rating on the stock in a research note on Monday. 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 on the stock in a research note on Tuesday, August 11th. Royal Bank Of Canada cut their price objective on shares of Barrick Gold from C$51.00 to C$49.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Finally, Barclays upped their price objective on Barrick Gold from C$55.00 to C$58.00 in a research note on Thursday, August 13th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$66.27.

Barrick Gold Stock Performance

Shares of TSE:ABX traded down C$0.06 during trading on Tuesday, hitting 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 company has a 50-day moving average of C$59.99 and a 200-day moving average of C$57.14. Barrick Gold has a 12 month low of C$42.62 and a 12 month high of C$74.00. The company has a debt-to-equity ratio of 17.15, a current ratio of 3.01 and a quick ratio of 2.62. The firm has a market cap of C$93.91 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 2.34 and a beta of 1.63.

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 (EPS) for the quarter. The company 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%. On average, sell-side analysts expect that Barrick Gold will post 2.24 earnings per share for the current year.

Insider Activity at Barrick Gold

In other news, insider Sarah Anna Ball Teslik bought 12,613 shares of Barrick Gold stock in a transaction that occurred on Friday, August 21st. The stock was bought at an average cost of C$67.27 per share, with a total value of C$848,476.51. Following the acquisition, the insider owned 12,613 shares of the company's stock, valued at C$848,476.51. The trade was a ∞ increase in their position. Also, insider Darian Kevin Rich sold 75,452 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 235,252 shares of the company's stock, valued at C$15,994,783.48. This represents a 24.28% decrease in their ownership of the stock. 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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