Brokerages Set Barrick Gold Co. (TSE:ABX) Price Target at C$67.67

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have earned an average recommendation of “Buy” from the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is C$67.67.

A number of equities research analysts have commented on ABX shares. ATB Cormark Capital Markets reduced their target price on Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. Royal Bank Of Canada decreased their target price on shares of Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Canaccord Genuity Group boosted their price target on shares of Barrick Gold from C$68.00 to C$73.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Barclays increased their price objective on shares of Barrick Gold from C$55.00 to C$58.00 in a research report on Thursday, August 13th. Finally, Raymond James Financial cut their target price on Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th.

Barrick Gold Price Performance

Shares of ABX stock opened at C$60.24 on Thursday. The company has a debt-to-equity ratio of 17.15, a current ratio of 3.01 and a quick ratio of 2.62. The company has a market capitalization of C$100.93 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.34 and a beta of 1.68. The firm’s 50-day moving average is C$57.70 and its two-hundred day moving average is C$57.12. Barrick Gold has a 12 month low of C$41.89 and a 12 month high of C$74.00.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Monday, August 10th. The basic materials company reported C$1.17 earnings per share (EPS) for the quarter. The business had revenue of C$6.06 billion during the quarter. Barrick Gold had a net margin of 31.60% and a return on equity of 24.57%. Analysts predict that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insider Activity at Barrick Gold

In related news, insider Darian Kevin Rich sold 75,452 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of C$67.99, for a total transaction of C$5,129,981.48. Following the completion of the transaction, the insider directly owned 235,252 shares in the company, valued at C$15,994,783.48. This trade represents a 24.28% decrease in their position. Also, insider Sarah Anna Ball Teslik acquired 12,613 shares of the stock in a transaction dated Friday, August 21st. The stock was acquired at an average cost of C$67.27 per share, with a total value of C$848,476.51. Following the purchase, the insider owned 12,613 shares of the company’s stock, valued at approximately C$848,476.51. This trade represents a ∞ increase in their position. Company insiders own 0.60% of the company’s stock.

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.