Barrick Gold Co. (TSE:ABX) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Analysts maintain a bullish view: Barrick Gold has an average “Buy” rating from 13 brokerages, with a consensus 12-month price target of C$68.00.
• Shares rose 2.7% to C$65.56, near the consensus target, while trading between a 52-week range of C$35.26 and C$74.00.
• Barrick reported quarterly EPS of C$1.17 on revenue of C$6.06 billion, with a 31.60% net margin; insiders have nevertheless sold approximately C$7.7 million of shares over the past 90 days.

Shares of Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX have been given an average rating of "Buy" by the thirteen research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is C$68.00.

A number of analysts have weighed in on ABX shares. 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. National Bank Financial boosted their price target on shares of Barrick Gold from C$67.50 to C$70.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Citigroup reduced their price objective on shares of Barrick Gold from C$48.00 to C$41.00 and set a "neutral" rating on the stock in a research note on Monday, July 27th. 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 for the company in a research report on Tuesday, August 11th. Finally, Raymond James Financial lowered their target price on shares of 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.

Barrick Gold Trading Up 2.7%

Shares of ABX stock opened at C$65.56 on Friday. The stock has a market cap of C$109.85 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 2.34 and a beta of 1.60. The stock has a 50-day moving average of C$54.61 and a 200-day moving average of C$57.57. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 17.15. Barrick Gold has a 1-year low of C$35.26 and a 1-year high of C$74.00.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last issued 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 during the quarter. Barrick Gold had a return on equity of 24.57% and a net margin of 31.60%. On average, equities research analysts forecast that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insiders Place Their Bets

In other Barrick Gold news, Director Robert Ananda Paul Samek purchased 10,000 shares of the firm's stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of C$55.06 per share, for a total transaction of C$550,600.00. Following the acquisition, the director owned 18,900 shares in the company, valued at approximately C$1,040,634. The trade was a 112.36% increase in their position. Also, Director Mark Francis Hill sold 9,453 shares of Barrick Gold stock in a transaction dated Monday, June 22nd. The stock was 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 directly owned 334,176 shares of the company's stock, valued at approximately C$18,997,905.60. This trade represents a 2.75% decrease in their ownership of the stock. Insiders have sold 134,422 shares of company stock worth $7,695,879 in the last ninety days. Insiders own 0.60% of the company's stock.

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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