Barrick Gold (TSE:ABX) Cut to Sector Perform at ATB Cormark Capital Markets

Key Points

• ATB Cormark downgraded Barrick Gold from "outperform" to "sector perform" but raised its target price to C$75.00, implying about a 31.30% upside from the prior close.
• Despite the downgrade, the MarketBeat consensus remains a Buy with a consensus price target of C$77.25 and mixed analyst ratings (five Strong Buy, six Buy, two Hold).
• ABX traded at C$57.12 (down 0.2%) with a market cap of C$95.7B and a PE of 19.49, while insider activity showed one sale of 100,000 shares and a director purchase of 12,400 shares; insiders own 0.60%.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX was downgraded by investment analysts at ATB Cormark Capital Markets from an "outperform" rating to a "sector perform" rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They currently have a C$75.00 target price on the basic materials company's stock, up from their previous target price of C$70.00. ATB Cormark Capital Markets' price target indicates a potential upside of 31.30% from the company's previous close.

ABX has been the subject of several other reports. National Bank Financial lowered their target price on shares of Barrick Gold from C$82.50 to C$75.00 and set an "outperform" rating for the company in a research note on Tuesday, February 10th. DZ Bank upgraded shares of Barrick Gold to a "strong-buy" rating in a research note on Monday, January 19th. Canaccord Genuity Group lowered their target price on shares of Barrick Gold from C$80.00 to C$77.00 in a research note on Wednesday, February 18th. Stifel Nicolaus raised their target price on shares of Barrick Gold from C$65.00 to C$95.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Finally, Sanford C. Bernstein raised their target price on shares of Barrick Gold from C$84.00 to C$86.00 in a research note on Friday, February 27th. Five investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Barrick Gold currently has a consensus rating of "Buy" and a consensus price target of C$77.25.

Barrick Gold Stock Down 0.2%

ABX traded down C$0.10 during trading on Tuesday, hitting C$57.12. The stock had a trading volume of 1,367,554 shares, compared to its average volume of 6,818,502. The company has a market capitalization of C$95.70 billion, a PE ratio of 19.49, a PEG ratio of 2.34 and a beta of 1.61. Barrick Gold has a twelve month low of C$24.29 and a twelve month high of C$74.00. 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 stock has a 50 day simple moving average of C$61.74 and a two-hundred day simple moving average of C$57.27.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last announced its earnings results on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share for the quarter. The company 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%. On average, research analysts predict that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insider Buying and Selling at Barrick Gold

In other news, insider Graham Patrick Shuttleworth sold 100,000 shares of Barrick Gold stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of C$64.72, for a total transaction of C$6,472,000.00. Following the completion of the sale, the insider directly owned 487,252 shares in the company, valued at approximately C$31,534,949.44. The trade was a 17.03% decrease in their ownership of the stock. Also, Director Pekka Juhani Vauramo acquired 12,400 shares of the 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 completion of the purchase, the director directly owned 12,400 shares of the company's stock, valued at approximately C$811,084. This trade represents a ∞ increase in their position. Insiders own 0.60% of the company's stock.

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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