Cormark Issues Positive Forecast for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective increased by Cormark from C$66.00 to C$78.00 in a research report released on Tuesday,BayStreet.CA reports.

ABX has been the topic of several other research reports. BMO Capital Markets increased their target price on Barrick Gold from C$37.00 to C$41.00 in a research report on Monday, September 22nd. National Bankshares increased their price objective on Barrick Gold from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. Canaccord Genuity Group lifted their target price on Barrick Gold from C$39.00 to C$57.00 and gave the company a “buy” rating in a report on Thursday, October 9th. National Bank Financial upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Finally, Cibc World Mkts raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Six research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Barrick Gold has an average rating of “Buy” and an average target price of C$50.50.

Barrick Gold Price Performance

Shares of TSE:ABX opened at C$55.18 on Tuesday. The firm has a market capitalization of C$93.11 billion, a PE ratio of 26.53, a P/E/G ratio of 2.34 and a beta of 1.18. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. The company has a 50-day moving average price of C$47.61 and a two-hundred day moving average price of C$36.64. Barrick Gold has a twelve month low of C$21.73 and a twelve month high of C$56.34.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Monday, November 10th. The basic materials company reported C$0.58 earnings per share (EPS) for the quarter. The company had revenue of C$3.41 billion for the quarter. Barrick Gold had a net margin of 13.19% and a return on equity of 6.90%. Equities analysts forecast that Barrick Gold will post 2.2422764 EPS for the current year.

Insider Transactions at Barrick Gold

In other Barrick Gold news, insider Joel James Holliday sold 13,588 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of C$40.38, for a total transaction of C$548,735.07. Following the transaction, the insider directly owned 84,087 shares in the company, valued at C$3,395,752.59. This trade represents a 13.91% decrease in their ownership of the stock. Also, insider Rousseau Jooste sold 3,000 shares of Barrick Gold stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of C$40.70, for a total transaction of C$122,112.00. Following the transaction, the insider directly owned 58,237 shares in the company, valued at C$2,370,478.85. This trade represents a 4.90% decrease in their ownership of the stock. In the last quarter, insiders sold 62,990 shares of company stock valued at $2,580,075. 0.60% of the stock is currently owned by corporate insiders.

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.