Barrick Gold (TSE:ABX) Given New C$65.00 Price Target at National Bankshares

Key Points

• National Bankshares has increased Barrick Gold's price target from C$60.00 to C$65.00, indicating a potential upside of 34.21% from its current price.
• Multiple analysts have shown confidence in Barrick Gold, with Cibc World Mkts upgrading the stock to a "strong-buy" rating and four other firms also giving strong ratings.
• Insider selling activity has been observed, with significant shares sold recently, suggesting a 13.91% decrease in one insider's holdings.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its target price upped by research analysts at National Bankshares from C$60.00 to C$65.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the basic materials company's stock. National Bankshares' price objective would suggest a potential upside of 34.21% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Cibc World Mkts upgraded shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Cormark increased their target price on shares of Barrick Gold from C$35.00 to C$45.00 in a research report on Thursday, September 18th. Canaccord Genuity Group increased their target price on shares of Barrick Gold from C$39.00 to C$57.00 and gave the company a "buy" rating in a research report on Thursday, October 9th. BMO Capital Markets raised their price objective on shares of Barrick Gold from C$37.00 to C$41.00 in a research report on Monday, September 22nd. Finally, National Bank Financial upgraded shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Four research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Barrick Gold presently has an average rating of "Buy" and a consensus price target of C$41.89.

Barrick Gold Stock Performance

Shares of ABX stock traded up C$1.63 during trading hours on Wednesday, hitting C$48.43. The company's stock had a trading volume of 2,609,961 shares, compared to its average volume of 4,217,326. The stock has a market cap of C$82.62 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.34 and a beta of 1.06. The company has a current ratio of 2.65, a quick ratio of 2.62 and a debt-to-equity ratio of 19.83. The company has a 50 day moving average of C$40.21 and a 200 day moving average of C$32.00. Barrick Gold has a 12-month low of C$21.73 and a 12-month high of C$49.92.

Insider Transactions at Barrick Gold

In other Barrick Gold news, insider Joel James Holliday sold 13,588 shares of Barrick Gold stock in a transaction on Thursday, September 18th. The stock was sold at an average price of C$40.38, for a total value of C$548,735.07. Following the completion of the transaction, the insider directly owned 84,087 shares of the company's stock, valued at C$3,395,752.59. The trade was a 13.91% decrease in their position. Also, insider Rousseau Jooste sold 3,000 shares of Barrick Gold stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of C$40.70, for a total value of C$122,112.00. Following the completion of the transaction, the insider directly owned 58,237 shares of the company's stock, valued at C$2,370,478.85. This represents a 4.90% decrease in their ownership of the stock. In the last 90 days, insiders sold 62,990 shares of company stock valued at $2,580,075. 0.60% of the stock is currently owned by company 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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