Barrick Gold Co. (TSE:ABX) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Brokerages have a consensus "Buy" rating on Barrick Gold (13 analysts: 5 strong buy, 7 buy, 1 hold) with an average 12‑month price target of C$79.63.
• The stock trades around C$53.92 with a one‑year range of C$24.28–C$74.00, a market cap of C$90.3B and a P/E of 18.4; its 50‑ and 200‑day moving averages are C$63.80 and C$56.28, respectively.
• Recent insider activity includes a director buying 12,400 shares at C$65.41 and an insider selling 100,000 shares at C$64.72, and insiders collectively own about 0.60% of the company.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX has been assigned a consensus rating of "Buy" from the thirteen brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and five have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is C$79.63.

A number of analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of Barrick Gold from C$65.00 to C$95.00 and gave the stock a "buy" rating in a research report on Tuesday, February 10th. DZ Bank upgraded shares of Barrick Gold to a "strong-buy" rating in a report on Monday, January 19th. Canaccord Genuity Group lowered their price objective on shares of Barrick Gold from C$80.00 to C$77.00 in a research note on Wednesday, February 18th. National Bank Financial dropped their target price on Barrick Gold from C$82.50 to C$75.00 and set an "outperform" rating on the stock in a report on Tuesday, February 10th. Finally, ATB Cormark Capital Markets cut their target price on Barrick Gold from C$100.00 to C$94.00 and set a "moderate buy" rating for the company in a research report on Monday, February 9th.

Barrick Gold Price Performance

Shares of ABX opened at C$53.92 on Thursday. Barrick Gold has a one year low of C$24.28 and a one year high of C$74.00. The stock's fifty day moving average is C$63.80 and its 200-day moving average is C$56.28. The company has a debt-to-equity ratio of 17.89, a quick ratio of 2.62 and a current ratio of 2.92. The firm has a market capitalization of C$90.34 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 2.34 and a beta of 1.33.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last posted its quarterly earnings data on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share for the quarter. The business had revenue of C$8.01 billion during the quarter. Barrick Gold had a net margin of 29.39% and a return on equity of 19.79%. Equities analysts anticipate that Barrick Gold will post 2.2422764 EPS for the current year.

Insiders Place Their Bets

In other news, Director Pekka Juhani Vauramo acquired 12,400 shares of the company's stock in a transaction dated Thursday, February 12th. The shares were bought at an average price of C$65.41 per share, with a total value of C$811,084.00. Following the purchase, the director owned 12,400 shares of the company's stock, valued at approximately C$811,084. This represents a ∞ increase in their ownership of the stock. Also, insider Graham Patrick Shuttleworth sold 100,000 shares of the firm's stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of C$64.72, for a total value of C$6,472,000.00. Following the transaction, the insider directly owned 487,252 shares of the company's stock, valued at C$31,534,949.44. This represents a 17.03% decrease in their position. 0.60% of the stock is currently owned by insiders.

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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