Barrick Gold (TSE:ABX) Stock Rating Upgraded by National Bankshares

Key Points

• Barrick Gold's stock rating has been upgraded from "sector perform" to "outperform" by National Bankshares, with a new target price set at C$51.00, reflecting a potential upside of 4.21% from its previous close.
• In addition to National Bankshares, several other analysts have revised their ratings, with three giving a Strong Buy rating and the average target price now sitting at C$37.33.
• Barrick Gold's shares increased by 7.4% during trading, reaching C$48.94, with significant insider trading activity reported in the past months.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX was upgraded by stock analysts at National Bankshares from a "sector perform" rating to an "outperform" rating in a report released on Monday,BayStreet.CA reports. The brokerage currently has a C$51.00 target price on the basic materials company's stock, up from their prior target price of C$36.00. National Bankshares' price target points to a potential upside of 4.21% from the stock's previous close.

A number of other equities research analysts have also recently commented on ABX. Cibc World Mkts upgraded shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Cormark raised their price target on shares of Barrick Gold from C$35.00 to C$45.00 in a research report on Thursday. Finally, BMO Capital Markets lifted their price objective on shares of Barrick Gold from C$37.00 to C$41.00 in a research report on Monday. Three research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of C$37.33.

Barrick Gold Trading Up 7.4%

Shares of ABX traded up C$3.39 during trading hours on Monday, hitting C$48.94. 6,042,993 shares of the stock were exchanged, compared to its average volume of 4,055,463. Barrick Gold has a fifty-two week low of C$21.73 and a fifty-two week high of C$49.33. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62. The business has a 50-day moving average of C$34.21 and a 200-day moving average of C$29.68. The firm has a market capitalization of C$83.49 billion, a P/E ratio of 30.78, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72.

Insider Activity

In related news, insider Poupak Bahamin sold 8,402 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of C$41.21, for a total transaction of C$346,269.11. Following the completion of the transaction, the insider owned 29,400 shares of the company's stock, valued at approximately C$1,211,653.38. The trade was a 22.23% decrease in their ownership of the stock. Also, insider Rousseau Jooste sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of C$40.70, for a total transaction of C$122,112.00. Following the transaction, the insider directly owned 58,237 shares of the company's stock, valued at approximately C$2,370,478.85. This represents a 4.90% decrease in their position. Insiders sold a total of 62,990 shares of company stock worth $2,580,075 in the last three months. Insiders own 0.60% of the company's stock.

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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