Barrick Gold (TSE:ABX) Price Target Raised to C$91.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective increased by Sanford C. Bernstein from C$86.00 to C$91.00 in a research note issued to investors on Monday morning,BayStreet.CA reports.

Several other equities research analysts also recently weighed in on ABX. DZ Bank upgraded shares of Barrick Gold to a “strong-buy” rating in a research report on Monday, January 19th. National Bank Financial dropped 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, April 17th. ATB Cormark Capital Markets lowered shares of Barrick Gold from a “moderate buy” rating to a “hold” rating and raised their price target for the company from C$70.00 to C$75.00 in a research report on Tuesday, April 7th. Stifel Nicolaus raised 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Barrick Gold from C$89.00 to C$91.00 in a research report on Wednesday, February 25th. Five analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$80.56.

Barrick Gold Price Performance

TSE ABX opened at C$55.67 on Monday. 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 firm’s 50 day moving average price is C$60.11 and its 200-day moving average price is C$58.15. Barrick Gold has a 52-week low of C$24.29 and a 52-week high of C$74.00. The company has a market cap of C$93.28 billion, a PE ratio of 19.00, a P/E/G ratio of 2.34 and a beta of 1.61.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings results on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share (EPS) for the quarter. The business had revenue of C$8.01 billion for the quarter. Barrick Gold had a return on equity of 19.79% and a net margin of 29.39%. Sell-side analysts forecast that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Insider Transactions at Barrick Gold

In other news, Director Pekka Juhani Vauramo bought 12,400 shares of Barrick Gold stock in a transaction on Thursday, February 12th. The shares were bought at an average cost of C$65.41 per share, with a total value of C$811,084.00. Following the completion of the purchase, the director directly owned 12,400 shares of the company’s stock, 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 company’s stock in a transaction dated 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 completion of the transaction, the insider directly owned 487,252 shares in the company, valued at C$31,534,949.44. The trade was a 17.03% decrease in their position. 0.60% of the stock is owned by 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.