JPMorgan Chase & Co. Has Lowered Expectations for Barrick Gold (TSE:ABX) Stock Price

Key Points

• JPMorgan cut its price target on Barrick Gold from C$91.00 to C$79.00, which still implies roughly a 44% upside from the current share price.
• Analyst consensus remains a Buy with an average target of C$79.06; ABX trades at C$54.91 with a market cap of C$92 billion, a P/E of 18.74, and a 52‑week range of C$24.29–C$74.00.
• Insider activity was mixed: a director purchased 12,400 shares at C$65.41 while an executive sold 100,000 shares at C$64.72, and insiders now hold about 0.60% of the stock.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its price objective dropped by research analysts at JPMorgan Chase & Co. from C$91.00 to C$79.00 in a note issued to investors on Thursday,BayStreet.CA reports. JPMorgan Chase & Co.'s target price indicates a potential upside of 43.87% from the company's current price.

ABX has been the subject of several other reports. Canaccord Genuity Group cut their target price on Barrick Gold from C$80.00 to C$77.00 in a research note 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 for the company in a research note on Friday, April 17th. ATB Cormark Capital Markets downgraded shares of Barrick Gold from a "moderate buy" rating to a "hold" rating and upped their price target for the stock from C$70.00 to C$75.00 in a report on Tuesday, April 7th. Sanford C. Bernstein upped their price target on shares of Barrick Gold from C$86.00 to C$91.00 in a report on Monday. Finally, DZ Bank upgraded shares of Barrick Gold to a "strong-buy" rating in a report on Monday, January 19th. Five investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$79.06.

Barrick Gold Price Performance

TSE ABX traded down C$0.76 on Thursday, hitting C$54.91. 1,045,863 shares of the company's stock were exchanged, compared to its average volume of 6,336,908. The stock has a 50-day moving average of C$60.11 and a 200-day moving average of C$58.15. The company has a current ratio of 2.92, a quick ratio of 2.62 and a debt-to-equity ratio of 17.89. Barrick Gold has a 52 week low of C$24.29 and a 52 week high of C$74.00. The stock has a market cap of C$92.00 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 2.34 and a beta of 1.61.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last released its earnings results 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 firm had revenue of C$8.01 billion during the quarter. Analysts expect that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insider Buying and Selling at Barrick Gold

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

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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