Barrick Gold Co. (TSE:ABX) Receives C$37.33 Average Target Price from Analysts

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) has received an average recommendation of “Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is C$37.33.

A number of equities analysts have recently issued reports on the company. Cormark raised their price objective on Barrick Gold from C$35.00 to C$45.00 in a research report on Thursday, September 18th. BMO Capital Markets raised their price objective on Barrick Gold from C$37.00 to C$41.00 in a research report on Monday, September 22nd. National Bank Financial upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. National Bankshares upgraded Barrick Gold from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$36.00 to C$51.00 in a research report on Monday, September 22nd. Finally, Cibc World Mkts upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th.

Barrick Gold Price Performance

Shares of ABX opened at C$47.37 on Thursday. Barrick Gold has a 1 year low of C$21.73 and a 1 year high of C$49.92. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62. The company has a market capitalization of C$80.81 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 2.34 and a beta of 0.72. The business has a 50-day moving average of C$37.84 and a 200-day moving average of C$31.07.

Insiders Place Their Bets

In other Barrick Gold news, insider Joel James Holliday sold 13,588 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of C$40.38, for a total value of C$548,735.07. Following the completion of the sale, the insider owned 84,087 shares of the company’s stock, valued at approximately C$3,395,752.59. This trade represents a 13.91% decrease in their ownership of the stock. Also, insider Rousseau Jooste sold 3,000 shares of Barrick Gold stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of C$40.70, for a total value of C$122,112.00. Following the transaction, the insider directly owned 58,237 shares in the company, valued at approximately C$2,370,478.85. The trade was a 4.90% decrease in their position. In the last three months, insiders have sold 62,990 shares of company stock valued at $2,580,075. Company insiders own 0.60% of the company’s stock.

About Barrick Gold

Barrick Gold Corp is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.