National Bank Financial Forecasts Strong Price Appreciation for Barrick Gold (TSE:ABX) Stock

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective increased by equities researchers at National Bank Financial from C$67.50 to C$70.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. National Bank Financial’s price objective would indicate a potential upside of 24.64% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Sanford C. Bernstein lifted their target price on Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th. Barclays lowered their price target on Barrick Gold from C$56.00 to C$55.00 in a research report on Thursday, July 16th. Citigroup cut their price objective on shares of Barrick Gold from C$48.00 to C$41.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Royal Bank Of Canada cut their price objective on shares of Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, BMO Capital Markets upped their target price on shares of Barrick Gold from C$55.00 to C$65.00 in a research note on Wednesday, April 22nd. Four research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$67.75.

Barrick Gold Stock Down 1.5%

ABX stock traded down C$0.87 during mid-day trading on Tuesday, reaching C$56.16. 1,936,582 shares of the company traded hands, compared to its average volume of 5,618,163. The stock has a market cap of C$94.10 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 2.34 and a beta of 1.60. The company has a quick ratio of 2.62, a current ratio of 3.06 and a debt-to-equity ratio of 17.29. Barrick Gold has a fifty-two week low of C$31.62 and a fifty-two week high of C$74.00. The firm’s 50 day moving average price is C$53.95 and its 200 day moving average price is C$58.07.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Monday, August 10th. The basic materials company reported C$1.17 EPS for the quarter. The firm had revenue of C$6.06 billion during the quarter. Barrick Gold had a return on equity of 23.58% and a net margin of 32.14%. As a group, equities research analysts predict that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Insider Buying and Selling at Barrick Gold

In related news, Director Robert Ananda Paul Samek acquired 10,000 shares of the stock in a transaction on Friday, June 5th. The shares were acquired at an average price of C$55.06 per share, with a total value of C$550,600.00. Following the completion of the transaction, the director owned 18,900 shares in the company, valued at approximately C$1,040,634. The trade was a 112.36% increase in their position. Also, Director Mark Francis Hill sold 9,453 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of C$56.85, for a total transaction of C$537,403.05. Following the completion of the transaction, the director owned 334,176 shares in the company, valued at approximately C$18,997,905.60. The trade was a 2.75% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 134,422 shares of company stock valued at $7,695,879. Insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

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.