Sanford C. Bernstein Raises Barrick Gold (TSE:ABX) Price Target to C$91.00

Key Points

• Sanford C. Bernstein raised its price target on Barrick Gold from C$86.00 to C$91.00, a level that implies about a 55.80% upside from the stock's previous close.
• The analyst landscape is mixed but favorable overall: the stock has an average rating of "Buy" with a consensus target of C$77.56, and recent firm targets range from C$72.50 to C$95.00 (including Stifel at C$95 and JPMorgan at C$91).
• Barrick traded at C$58.41 midday with a market cap of about C$97.87 billion, a P/E of ~19.9, and a 12‑month range of C$24.29–C$74.00.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its target price boosted by research analysts at Sanford C. Bernstein from C$86.00 to C$91.00 in a research note issued to investors on Monday,BayStreet.CA reports. Sanford C. Bernstein's price objective points to a potential upside of 55.80% from the stock's previous close.

Other analysts have also issued research reports about the stock. National Bank Financial lowered their price target on shares of Barrick Gold from C$75.00 to C$72.50 and set an "outperform" rating on the stock in a research report on Friday. ATB Cormark Capital Markets lowered shares of Barrick Gold from a "moderate buy" rating to a "hold" rating and boosted their price target for the company from C$70.00 to C$75.00 in a research report on Tuesday, April 7th. DZ Bank raised shares of Barrick Gold to a "strong-buy" rating in a research report on Monday, January 19th. JPMorgan Chase & Co. boosted their price target on shares of Barrick Gold from C$89.00 to C$91.00 in a research report on Wednesday, February 25th. Finally, Stifel Nicolaus boosted their price target on shares of Barrick Gold from C$65.00 to C$95.00 and gave the company a "buy" rating in a research report on Tuesday, February 10th. Five investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of C$77.56.

Barrick Gold Stock Performance

ABX traded down C$0.94 during midday trading on Monday, reaching C$58.41. The company had a trading volume of 1,106,318 shares, compared to its average volume of 6,466,043. The company has a debt-to-equity ratio of 17.89, a quick ratio of 2.62 and a current ratio of 2.92. The stock has a market cap of C$97.87 billion, a PE ratio of 19.94, a P/E/G ratio of 2.34 and a beta of 1.61. Barrick Gold has a 12-month low of C$24.29 and a 12-month high of C$74.00. The business has a 50-day moving average price of C$60.56 and a two-hundred day moving average price of C$58.03.

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. The firm had revenue of C$8.01 billion for the quarter. Barrick Gold had a net margin of 29.39% and a return on equity of 19.79%. On average, sell-side 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 news, Director Pekka Juhani Vauramo purchased 12,400 shares of the business's stock in a transaction on Thursday, February 12th. The stock was purchased at an average cost of C$65.41 per share, with a total value of C$811,084.00. Following the acquisition, the director directly owned 12,400 shares in the company, valued at approximately C$811,084. This trade represents a ∞ increase in their ownership of the stock. Also, insider Graham Patrick Shuttleworth sold 100,000 shares of the business's stock in a transaction on Tuesday, February 10th. The shares were 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 owned by company 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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