Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX had its target price boosted by Royal Bank of Canada to C$19.00 in a research note issued on Wednesday, Stock Target Advisor reports. The brokerage currently has a "buy" rating on the basic materials company's stock. Royal Bank of Canada's price target would suggest a potential downside of 25.29% from the company's current price.
A number of other research analysts have also recently weighed in on the stock. UBS Group cut shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 30th. Canaccord Genuity Group reduced their price objective on shares of Barrick Gold from C$33.50 to C$30.00 in a research report on Wednesday, January 15th. TD Cowen restated a "buy" rating and set a C$36.00 price objective on shares of Barrick Gold in a research report on Tuesday, January 14th. TD Securities restated a "buy" rating and set a C$34.00 price objective on shares of Barrick Gold in a research report on Wednesday, October 16th. Finally, National Bankshares reduced their price objective on shares of Barrick Gold from C$26.00 to C$24.00 and set a "sector perform" rating for the company in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Barrick Gold presently has an average rating of "Moderate Buy" and a consensus price target of C$30.23.
Check Out Our Latest Analysis on Barrick Gold
Barrick Gold Trading Down 2.9 %
Shares of ABX traded down C$0.76 during trading on Wednesday, reaching C$25.43. 4,635,750 shares of the company traded hands, compared to its average volume of 3,188,417. Barrick Gold has a twelve month low of C$19.25 and a twelve month high of C$29.50. The stock has a market cap of C$30.91 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The stock has a 50-day simple moving average of C$23.33 and a 200-day simple moving average of C$25.22. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83.
Insiders Place Their Bets
In related news, Director Dennis Mark Bristow purchased 85,296 shares of the stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of C$25.03 per share, with a total value of C$2,135,291.53. Also, Senior Officer Poupak Bahamin purchased 5,778 shares of the stock in a transaction dated Thursday, November 21st. The shares were bought at an average cost of C$25.03 per share, for a total transaction of C$144,645.87. 0.60% of the stock is owned by insiders.
About Barrick Gold
(
Get Free Report)
Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d'Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.
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