Barrick Gold (TSE:ABX) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Stifel Nicolaus has raised its price target for Barrick Gold from C$46.00 to C$65.00, indicating a potential upside of 34.13% from the previous close.
• Shares of Barrick Gold saw a 3.7% increase, trading at C$48.46, with a market cap of C$82.67 billion.
• Currently, the stock has an average rating of "Buy," with four analysts giving it a Strong Buy rating and an average price target of C$46.38.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its price objective boosted by investment analysts at Stifel Nicolaus from C$46.00 to C$65.00 in a report released on Monday,BayStreet.CA reports. Stifel Nicolaus' price objective would indicate a potential upside of 34.13% from the company's previous close.

Several other equities research analysts have also issued reports on the stock. Cormark lifted their price target on shares of Barrick Gold from C$35.00 to C$45.00 in a research note on Thursday, September 18th. National Bankshares lifted their price target on shares of Barrick Gold from C$60.00 to C$65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 15th. Canaccord Genuity Group lifted their price target on shares of Barrick Gold from C$39.00 to C$57.00 and gave the company a "buy" rating in a research note on Thursday, October 9th. BMO Capital Markets lifted their price target on shares of Barrick Gold from C$37.00 to C$41.00 in a research note on Monday, September 22nd. Finally, Cibc World Mkts raised shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of C$46.38.

Barrick Gold Stock Up 3.7%

Shares of TSE:ABX traded up C$1.73 during midday trading on Monday, reaching C$48.46. 1,767,900 shares of the company were exchanged, compared to its average volume of 4,233,673. Barrick Gold has a fifty-two week low of C$21.73 and a fifty-two week high of C$51.09. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. The stock has a fifty day simple moving average of C$41.22 and a two-hundred day simple moving average of C$32.47. The firm has a market cap of C$82.67 billion, a PE ratio of 30.48, a P/E/G ratio of 2.34 and a beta of 1.06.

Insider Buying and Selling at Barrick Gold

In other Barrick Gold news, insider Grant Bill Beringer sold 38,000 shares of the business's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of C$41.13, for a total value of C$1,562,959.00. Following the completion of the sale, the insider owned 107,047 shares of the company's stock, valued at C$4,402,896.63. The trade was a 26.20% decrease in their position. Also, insider Rousseau Jooste sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of C$40.70, for a total transaction of C$122,112.00. Following the sale, the insider directly owned 58,237 shares of the company's stock, valued at approximately C$2,370,478.85. This trade represents a 4.90% decrease in their position. Over the last 90 days, insiders sold 62,990 shares of company stock worth $2,580,075. 0.60% of the stock is currently owned by company insiders.

About Barrick Gold

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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