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

Key Points

• Analysts maintain a “Buy” consensus on Barrick Gold, with six buy ratings, four strong-buy ratings and three holds among 13 brokerages. The average 12-month price target is C$70.23.
• Barrick reported quarterly revenue of C$5.81 billion and earnings of C$1.36 per share, alongside a 32.14% net margin and 23.58% return on equity.
• The stock opened at C$51.85, below its 50-day and 200-day moving averages of C$54.43 and C$58.91, respectively. Insider activity was mixed, with a director buying 10,000 shares while insiders collectively sold 134,422 shares over the prior 90 days.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX has been assigned an average recommendation of "Buy" from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and four have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$70.23.

A number of research firms have recently commented on ABX. Barclays dropped their price target on Barrick Gold from C$56.00 to C$55.00 in a research report on Thursday, July 16th. Sanford C. Bernstein boosted their price objective on Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th. National Bank Financial lowered their target price on Barrick Gold from C$75.00 to C$67.50 and set an "outperform" rating for the company in a research note on Tuesday, July 14th. BMO Capital Markets raised their target price on shares of Barrick Gold from C$55.00 to C$65.00 in a report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Barrick Gold from C$91.00 to C$79.00 in a research note on Thursday, April 23rd.

Barrick Gold Price Performance

ABX opened at C$51.85 on Wednesday. The stock has a market cap of C$86.88 billion, a P/E ratio of 14.32, a P/E/G ratio of 2.34 and a beta of 1.60. Barrick Gold has a 12 month low of C$28.99 and a 12 month high of C$74.00. The company has a quick ratio of 2.62, a current ratio of 3.06 and a debt-to-equity ratio of 17.29. The company has a fifty day simple moving average of C$54.43 and a 200 day simple moving average of C$58.91.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last posted its earnings results on Monday, May 11th. The basic materials company reported C$1.36 earnings per share for the quarter. Barrick Gold had a return on equity of 23.58% and a net margin of 32.14%.The firm had revenue of C$5.81 billion for the quarter. On average, research analysts expect that Barrick Gold will post 2.2422764 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robert Ananda Paul Samek bought 10,000 shares of Barrick Gold stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of C$55.06 per share, with a total value of C$550,600.00. Following the purchase, the director owned 18,900 shares in the company, valued at approximately C$1,040,634. This trade represents a 112.36% increase in their ownership of the stock. Also, Director Mark Francis Hill sold 9,453 shares of the company's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of C$56.85, for a total transaction 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. The trade was a 2.75% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 134,422 shares of company stock worth $7,695,879. 0.60% of the stock is currently owned by company 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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