Barrick Gold Co. (TSE:ABX) Receives Average Rating of "Buy" from Analysts

Key Points

• Barrick Gold Co. has an average rating of "Buy" from twelve research firms, with two holds, six buys, and four strong buys.
• The stock's average 1-year price target is C$37.33, reflecting recent upgrades from several analysts, with some increasing their targets significantly.
• Insider trading activity shows a notable 26.20% decrease in ownership for one insider after selling 38,000 shares, raising questions about insider sentiment.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX has received a consensus recommendation of "Buy" from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, six have given a buy rating and four have given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$37.33.

ABX has been the topic of a number of research reports. Cibc World Mkts raised shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. National Bankshares raised shares of Barrick Gold from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from C$36.00 to C$51.00 in a research report on Monday, September 22nd. BMO Capital Markets upped their price target on shares of Barrick Gold from C$37.00 to C$41.00 in a research report on Monday, September 22nd. Cormark upped their price target on shares of Barrick Gold from C$35.00 to C$45.00 in a research report on Thursday, September 18th. Finally, National Bank Financial raised shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 19th.

Barrick Gold Stock Up 2.8%

Barrick Gold stock opened at C$47.00 on Thursday. The stock has a market capitalization of C$80.18 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72. Barrick Gold has a twelve month low of C$21.73 and a twelve month high of C$49.92. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. The company has a 50 day moving average of C$37.13 and a 200-day moving average of C$30.78.

Insider Activity

In other news, insider Grant Bill Beringer sold 38,000 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of C$41.13, for a total value of C$1,562,959.00. Following the transaction, the insider directly owned 107,047 shares of the company's stock, valued at C$4,402,896.63. This represents a 26.20% decrease in their ownership of the stock. Also, insider Rousseau Jooste sold 3,000 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of C$40.70, for a total transaction of C$122,112.00. Following the completion of the transaction, the insider directly owned 58,237 shares in the company, valued at C$2,370,478.85. The trade was a 4.90% decrease in their ownership of the stock. Over the last three months, insiders sold 62,990 shares of company stock valued at $2,580,075. 0.60% of the stock is owned by insiders.

Barrick Gold Company Profile

Barrick Gold Corp is one of the world's largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.

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