Barrick Gold Co. (TSE:ABX) Stock Has Consensus Target Price of C$66.27

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$66.27.

ABX has been the subject of a number of recent research reports. 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. Citigroup raised shares of Barrick Gold to a “hold” rating in a research note on Thursday, September 3rd. TD dropped their price target on shares of Barrick Gold from C$59.00 to C$58.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Raymond James Financial dropped their target price on Barrick Gold from C$58.00 to C$56.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Finally, National Bank Financial cut their target price on Barrick Gold from C$75.00 to C$72.50 and set an “outperform” rating on the stock in a research report on Tuesday, October 20th.

Barrick Gold Stock Down 5.6%

Barrick Gold stock opened at C$56.41 on Friday. The company has a market capitalization of C$92.84 billion, a PE ratio of 14.58, a PEG ratio of 2.34 and a beta of 1.86. Barrick Gold has a 12-month low of C$47.70 and a 12-month high of C$74.00. The firm’s fifty day moving average is C$57.84 and its 200 day moving average is C$58.18. The company has a quick ratio of 2.62, a current ratio of 2.73 and a debt-to-equity ratio of 16.97.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Monday, August 10th. The basic materials company reported C$1.17 earnings per share for the quarter. The firm had revenue of C$6.06 billion during the quarter. Barrick Gold had a net margin of 30.30% and a return on equity of 24.16%. As a group, sell-side analysts predict that Barrick Gold will post 2.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Darian Kevin Rich sold 75,452 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of C$67.99, for a total value of C$5,129,981.48. Following the transaction, the insider owned 235,252 shares in the company, valued at C$15,994,783.48. The trade was a 24.28% decrease in their position. Also, Director Mark Francis Hill sold 174,778 shares of Barrick Gold stock in a transaction on Friday, September 25th. The stock was sold at an average price of C$59.47, for a total value of C$10,394,047.66. Following the sale, the director owned 125,914 shares in the company, valued at C$7,488,105.58. This trade represents a 58.13% decrease in their ownership of the stock. 0.60% of the stock is currently 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.