Insider Selling: Barrick Gold (TSE:ABX) Insider Sells 8,402 Shares of Stock

Key Points

• Poupak Bahamin, an insider at Barrick Gold, sold 8,402 shares for a total of C$346,269, representing a 22.23% decrease in their ownership of the company.
• Barrick Gold's stock has recently experienced a significant increase, trading at C$45.63, up C$4.11 in midday trading, with a market capitalization of C$77.84 billion.
• Wall Street analysts have raised Barrick Gold's target price, with Cormark setting it to C$45.00, reflecting growing confidence in the company's future performance.

Barrick Gold Co. (TSE:ABX - Get Free Report) NYSE: ABX insider Poupak Bahamin sold 8,402 shares of the firm'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 value of C$346,269.11. Following the completion of the transaction, the insider owned 29,400 shares in the company, valued at approximately C$1,211,653.38. This trade represents a 22.23% decrease in their position.

Barrick Gold Price Performance

Shares of TSE ABX traded up C$4.11 during midday trading on Friday, hitting C$45.63. The stock had a trading volume of 9,250,881 shares, compared to its average volume of 4,013,619. The company has a market capitalization of C$77.84 billion, a PE ratio of 28.70, a P/E/G ratio of 2.34 and a beta of 0.72. The stock has a 50 day simple moving average of C$33.88 and a 200-day simple moving average of C$29.50. Barrick Gold Co. has a 1 year low of C$21.73 and a 1 year high of C$45.67. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ABX shares. Cormark raised their target price on Barrick Gold from C$35.00 to C$45.00 in a research report on Thursday. BMO Capital Markets upped their target price on Barrick Gold from C$31.00 to C$37.00 in a report on Friday, September 12th. Finally, Cibc World Mkts raised Barrick Gold from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$34.89.

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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