BMO Capital Markets Raises Barrick Gold (TSE:ABX) Price Target to C$65.00

Key Points

• BMO Capital Markets raised Barrick Gold's price target to C$65.00, implying roughly a 16.7% upside from the prior close.
• Analyst consensus remains positive with an average target of C$80.56 and the majority of ratings at "Buy" (five Strong Buy, six Buy, one Hold).
• Insider activity was mixed: a director purchased 12,400 shares at about C$65.41, while another insider sold 100,000 shares at about C$64.72.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its target price lifted by equities research analysts at BMO Capital Markets from C$55.00 to C$65.00 in a note issued to investors on Wednesday,BayStreet.CA reports. BMO Capital Markets' price target points to a potential upside of 16.72% from the stock's previous close.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group reduced their price objective on Barrick Gold from C$80.00 to C$77.00 in a research report on Wednesday, February 18th. National Bank Financial cut their target price on Barrick Gold from C$75.00 to C$72.50 and set an "outperform" rating on the stock in a research note on Friday, April 17th. JPMorgan Chase & Co. increased their target price on Barrick Gold from C$89.00 to C$91.00 in a research note on Wednesday, February 25th. ATB Cormark Capital Markets downgraded Barrick Gold from a "moderate buy" rating to a "hold" rating and increased their target price for the company from C$70.00 to C$75.00 in a research note on Tuesday, April 7th. Finally, Stifel Nicolaus increased their target price on 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. Five investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Barrick Gold has an average rating of "Buy" and an average target price of C$80.56.

Barrick Gold Stock Up 0.6%

ABX stock traded up C$0.34 on Wednesday, reaching C$55.69. 826,425 shares of the company traded hands, compared to its average volume of 6,396,320. Barrick Gold has a one year low of C$24.29 and a one year high of C$74.00. The company has a debt-to-equity ratio of 17.89, a current ratio of 2.92 and a quick ratio of 2.62. The company has a market cap of C$93.31 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 2.34 and a beta of 1.61. The firm has a fifty day simple moving average of C$60.30 and a 200-day simple moving average of C$58.17.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last posted its quarterly earnings data on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share for the quarter. Barrick Gold had a return on equity of 19.79% and a net margin of 29.39%.The company had revenue of C$8.01 billion during the quarter. Research analysts anticipate that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Pekka Juhani Vauramo purchased 12,400 shares of the company's stock in a transaction dated Thursday, February 12th. The shares were purchased at an average cost of C$65.41 per share, for a total transaction of C$811,084.00. Following the purchase, the director directly owned 12,400 shares in the company, valued at approximately C$811,084. This represents a ∞ increase in their position. Also, insider Graham Patrick Shuttleworth sold 100,000 shares of the firm's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of C$64.72, for a total value of C$6,472,000.00. Following the completion of the transaction, the insider owned 487,252 shares in the company, valued at approximately C$31,534,949.44. This trade represents a 17.03% decrease in their ownership of the stock. Company insiders own 0.60% of the company's stock.

About Barrick Gold

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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