Barrick Gold (TSE:ABX) Price Target Raised to C$70.00

Key Points

• National Bank Financial raised Barrick Gold’s price target to C$70.00 from C$67.50 while maintaining an “outperform” rating, implying 24.64% upside from the current price.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of C$67.75; ratings include four Strong Buys, seven Buys, and three Holds.
• Barrick shares fell 1.5% to C$56.16 in Tuesday trading. The company recently reported quarterly EPS of C$1.17 and revenue of C$6.06 billion, with a 32.14% net margin.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its price objective upped by analysts at National Bank Financial from C$67.50 to C$70.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the basic materials company's stock. National Bank Financial's target price would indicate a potential upside of 24.64% from the company's current price.

Several other research analysts have also weighed in on the company. Royal Bank Of Canada lowered their price objective on Barrick Gold from C$51.00 to C$49.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. BMO Capital Markets raised their target price on Barrick Gold from C$55.00 to C$65.00 in a research note on Wednesday, April 22nd. Barclays lowered their target price on Barrick Gold from C$56.00 to C$55.00 in a report on Thursday, July 16th. JPMorgan Chase & Co. cut their price target on Barrick Gold from C$91.00 to C$79.00 in a report on Thursday, April 23rd. Finally, Sanford C. Bernstein raised their price objective on shares of Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th. Four investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Barrick Gold has a consensus rating of "Buy" and a consensus price target of C$67.75.

Barrick Gold Trading Down 1.5%

Shares of ABX traded down C$0.87 during trading hours on Tuesday, hitting C$56.16. 1,936,582 shares of the stock were exchanged, compared to its average volume of 5,618,163. Barrick Gold has a fifty-two week low of C$31.62 and a fifty-two week high of C$74.00. The business has a 50-day moving average of C$53.95 and a 200-day moving average of C$58.07. The firm has a market capitalization of C$94.10 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60. The company has a debt-to-equity ratio of 17.29, a current ratio of 3.06 and a quick ratio of 2.62.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last released its earnings results on Monday, August 10th. The basic materials company reported C$1.17 earnings per share (EPS) for the quarter. The business had revenue of C$6.06 billion for the quarter. Barrick Gold had a net margin of 32.14% and a return on equity of 23.58%. On average, research analysts expect that Barrick Gold will post 2.2422764 EPS for the current year.

Insider Buying and Selling

In other Barrick Gold news, Director Mark Francis Hill sold 88,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of C$57.85, for a total value of C$5,090,800.00. Following the transaction, the director owned 380,598 shares in the company, valued at approximately C$22,017,594.30. This represents a 18.78% decrease in their ownership of the stock. Also, Director Robert Ananda Paul Samek acquired 10,000 shares of Barrick Gold stock in a transaction 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 directly owned 18,900 shares of the company's stock, valued at approximately C$1,040,634. This trade represents a 112.36% increase in their position. Over the last ninety days, insiders have sold 134,422 shares of company stock worth $7,695,879. 0.60% of the stock is 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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