Barrick Gold Co. (TSE:ABX) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• Analysts maintain a consensus “Buy” rating on Barrick Gold, with seven buy ratings, three strong-buy ratings, and three holds. The average 12-month price target is C$67.67, compared with the stock’s reported price of C$59.47.
• Recent analyst views were mixed but generally positive: Canaccord Genuity raised its target to C$73, National Bank increased its target to C$70, while ATB Cormark and Royal Bank of Canada reduced 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 was mixed, including a substantial share sale by one insider and a purchase by another.

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

ABX has been the subject of a number of research reports. ATB Cormark Capital Markets reduced their price target on shares of Barrick Gold from C$60.00 to C$57.00 and set a "sector perform" rating for the company in a report on Tuesday, August 11th. Canaccord Genuity Group increased their target price on shares of Barrick Gold from C$68.00 to C$73.00 and gave the company a "buy" rating in a research note on Tuesday, August 25th. National Bank Financial lifted their target price on Barrick Gold from C$67.50 to C$70.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Barclays lifted their target price on Barrick Gold from C$55.00 to C$58.00 in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada cut their price target on Barrick Gold from C$51.00 to C$49.00 and set an "outperform" rating for the company in a report on Thursday, July 9th.

Insider Buying and Selling

In related news, insider Darian Kevin Rich sold 75,452 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of C$67.99, for a total value of C$5,129,981.48. Following the completion of the transaction, the insider directly 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 purchased 12,613 shares of the firm's stock in a transaction on Friday, August 21st. The shares were acquired at an average price of C$67.27 per share, for a total transaction of C$848,476.51. Following the purchase, the insider directly owned 12,613 shares of the company's stock, valued at approximately C$848,476.51. This represents a ∞ increase in their ownership of the stock. Insiders sold a total of 121,874 shares of company stock valued at $7,735,061 over the last ninety days. 0.60% of the stock is owned by company insiders.

Barrick Gold Stock Performance

Shares of TSE ABX opened at C$59.47 on Thursday. Barrick Gold has a 12 month low of C$39.05 and a 12 month high of C$74.00. The company has a market cap of C$99.64 billion, a P/E ratio of 15.37, a P/E/G ratio of 2.34 and a beta of 1.68. The business's 50 day moving average is C$57.36 and its two-hundred day moving average is C$57.16. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 17.15.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last posted its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 earnings per share for the quarter. The company had revenue of C$6.06 billion during the quarter. Barrick Gold had a return on equity of 24.57% and a net margin of 31.60%. On average, equities analysts expect that Barrick Gold will post 2.2422764 EPS for the current year.

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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