Canaccord Genuity Group Boosts Barrick Gold (TSE:ABX) Price Target to C$57.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target increased by research analysts at Canaccord Genuity Group from C$39.00 to C$57.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 24.29% from the company’s current price.

Other research analysts have also recently issued research reports about the company. National Bankshares raised Barrick Gold from a “sector perform” rating to an “outperform” rating and upped their price target for the company from C$36.00 to C$51.00 in a report on Monday, September 22nd. BMO Capital Markets upped their price target on Barrick Gold from C$37.00 to C$41.00 in a report on Monday, September 22nd. Cormark upped their price target on Barrick Gold from C$35.00 to C$45.00 in a report on Thursday, September 18th. National Bank Financial raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Finally, Cibc World Mkts upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Four research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Barrick Gold currently has an average rating of “Buy” and a consensus target price of C$40.33.

Barrick Gold Stock Performance

Shares of TSE ABX opened at C$45.86 on Thursday. The company has a current ratio of 2.65, a quick ratio of 2.62 and a debt-to-equity ratio of 19.83. The stock has a 50 day simple moving average of C$39.57 and a 200-day simple moving average of C$31.71. The company has a market cap of C$78.24 billion, a PE ratio of 28.84, a P/E/G ratio of 2.34 and a beta of 1.06. Barrick Gold has a 12-month low of C$21.73 and a 12-month high of C$49.92.

Insider Transactions at Barrick Gold

In other news, insider Poupak Bahamin sold 8,402 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of C$41.21, for a total transaction of C$346,269.11. Following the transaction, the insider owned 29,400 shares of the company’s stock, valued at approximately C$1,211,653.38. This represents a 22.23% decrease in their position. Also, insider Rousseau Jooste sold 3,000 shares of the stock in a transaction dated 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. This represents a 4.90% decrease in their position. Insiders sold 62,990 shares of company stock valued at $2,580,075 over the last 90 days. Company insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

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.