National Bank Financial Has Lowered Expectations for Barrick Gold (TSE:ABX) Stock Price

Key Points

• National Bank Financial cut its price target on Barrick Gold from C$75.00 to C$67.50, while keeping an outperform rating on the stock.
• Analyst sentiment remains broadly positive overall, with a consensus Buy rating and an average price target of C$73.25, though several firms have recently adjusted their targets up or down.
• Barrick Gold shares were up 1.1% to C$51.36 in Tuesday trading, and the company recently reported quarterly EPS of C$1.36 on revenue of C$5.81 billion.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its price target dropped by National Bank Financial from C$75.00 to C$67.50 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the basic materials company's stock. National Bank Financial's price target points to a potential upside of 31.43% from the company's previous close.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. decreased their target price on Barrick Gold from C$91.00 to C$79.00 in a report on Thursday, April 23rd. Sanford C. Bernstein upped their target price on Barrick Gold from C$86.00 to C$91.00 in a report on Monday, April 20th. BMO Capital Markets lifted their price target on Barrick Gold from C$55.00 to C$65.00 in a research note on Wednesday, April 22nd. ATB Cormark Capital Markets downgraded Barrick Gold from a "moderate buy" rating to a "hold" rating and boosted their price objective for the stock from C$70.00 to C$75.00 in a report on Tuesday, April 7th. Finally, Barclays set a C$56.00 target price on shares of Barrick Gold and gave the stock an "equal weight" rating in a report on Friday, May 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of C$73.25.

Barrick Gold Stock Up 1.1%

Shares of TSE:ABX traded up C$0.55 during midday trading on Tuesday, reaching C$51.36. The company had a trading volume of 1,813,072 shares, compared to its average volume of 5,765,779. The company has a debt-to-equity ratio of 17.29, a current ratio of 3.06 and a quick ratio of 2.62. The stock's fifty day moving average price is C$55.98 and its 200-day moving average price is C$59.75. The stock has a market capitalization of C$86.05 billion, a P/E ratio of 14.19, a PEG ratio of 2.34 and a beta of 1.60. Barrick Gold has a one year low of C$28.22 and a one year high of C$74.00.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last issued its quarterly earnings results on Monday, May 11th. The basic materials company reported C$1.36 EPS for the quarter. Barrick Gold had a net margin of 32.04% and a return on equity of 23.48%. The business had revenue of C$5.81 billion for the quarter. Equities research analysts expect that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

Insider Buying and Selling at Barrick Gold

In other Barrick Gold news, Director Robert Ananda Paul Samek acquired 10,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of C$55.06 per share, for a total transaction of C$550,600.00. Following the completion of the acquisition, the director owned 18,900 shares of the company's stock, valued at approximately C$1,040,634. This trade represents a 112.36% increase in their position. Also, Director Mark Francis Hill sold 9,453 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of C$56.85, for a total transaction of C$537,403.05. Following the transaction, the director directly owned 334,176 shares in the company, valued at C$18,997,905.60. The trade was a 2.75% decrease in their ownership of the stock. In the last ninety days, insiders sold 134,422 shares of company stock valued at $7,695,879. 0.60% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.