Barrick Gold Co. (ABX.TO) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analysts are broadly bullish: Barrick Gold has a consensus “Buy” rating from 13 firms, with seven buys, three strong buys, and three holds. The average 12-month price target is C$67.67, above the reported C$58.53 opening price.
• Recent analyst actions were mixed but generally supportive, including Canaccord Genuity raising its target to C$73 and Barclays increasing its target to C$58, while ATB Cormark and Raymond James lowered their targets.
• Barrick reported quarterly earnings of C$1.17 per share on C$6.06 billion in revenue, with a 31.60% net margin and 24.57% return on equity. Insider activity included a major share sale by Darian Kevin Rich and a purchase by Sarah Anna Ball Teslik.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX has been assigned a consensus rating of "Buy" from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$67.67.

Several research analysts have recently issued reports on the company. Canaccord Genuity Group raised their price objective on Barrick Gold from C$68.00 to C$73.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. ATB Cormark Capital Markets dropped their target price on Barrick Gold from C$60.00 to C$57.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 11th. Barclays increased their price target on shares of Barrick Gold from C$55.00 to C$58.00 in a report on Thursday, August 13th. Citigroup upgraded shares of Barrick Gold to a "hold" rating in a report on Thursday, September 3rd. Finally, Raymond James Financial reduced their price target on shares of Barrick Gold from C$58.00 to C$56.00 and set an "outperform" rating for the company in a research report on Tuesday, August 11th.

Barrick Gold Price Performance

TSE ABX opened at C$58.53 on Monday. The company has a market cap of C$96.33 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 2.34 and a beta of 1.63. The company has a debt-to-equity ratio of 17.15, a current ratio of 3.01 and a quick ratio of 2.62. The stock's fifty day moving average price is C$59.88 and its 200 day moving average price is C$56.99. Barrick Gold has a 1 year low of C$42.62 and a 1 year high of C$74.00.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last posted its quarterly earnings results on Monday, August 10th. The basic materials company reported C$1.17 earnings per share for the quarter. The business had revenue of C$6.06 billion for the quarter. Barrick Gold had a return on equity of 24.57% and a net margin of 31.60%. As a group, equities research analysts forecast that Barrick Gold will post 2.24 earnings per share for the current year.

Insider Activity

In related news, insider Darian Kevin Rich sold 75,452 shares of the firm's stock in a transaction on Monday, August 24th. The shares were sold at an average price of C$67.99, for a total transaction of C$5,129,981.48. Following the completion of the transaction, the insider owned 235,252 shares of the company's stock, valued at C$15,994,783.48. This trade represents a 24.28% decrease in their ownership of the stock. Also, insider Sarah Anna Ball Teslik bought 12,613 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were acquired at an average price of C$67.27 per share, with a total value of C$848,476.51. Following the completion of the transaction, the insider directly owned 12,613 shares of the company's stock, valued at C$848,476.51. This trade represents a ∞ increase in their ownership of the stock. Insiders own 0.60% of the company's stock.

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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