National Bankshares Boosts Barrick Gold (TSE:ABX) Price Target to C$65.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price lifted by National Bankshares from C$60.00 to C$65.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the basic materials company’s stock. National Bankshares’ price objective indicates a potential upside of 29.79% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group increased their price target on Barrick Gold from C$39.00 to C$57.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. National Bank Financial upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. BMO Capital Markets increased their price target on Barrick Gold from C$37.00 to C$41.00 in a research report on Monday, September 22nd. Cibc World Mkts upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Finally, Cormark increased their price target on Barrick Gold from C$35.00 to C$45.00 in a research report on Thursday, September 18th. Four equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Barrick Gold presently has an average rating of “Buy” and a consensus price target of C$42.88.

Barrick Gold Stock Up 2.8%

TSE ABX opened at C$50.08 on Wednesday. The firm has a market cap of C$85.44 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 2.34 and a beta of 1.06. Barrick Gold has a one year low of C$21.73 and a one year high of C$51.09. The stock’s 50 day simple moving average is C$40.93 and its 200 day simple moving average is C$32.27. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62.

Insider Transactions at Barrick Gold

In other Barrick Gold news, insider Rousseau Jooste sold 3,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of C$40.70, for a total transaction of C$122,112.00. Following the transaction, the insider owned 58,237 shares of the company’s stock, valued at approximately C$2,370,478.85. This represents a 4.90% decrease in their position. Also, insider Poupak Bahamin sold 8,402 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of C$41.21, for a total value of C$346,269.11. Following the transaction, the insider directly owned 29,400 shares in the company, valued at approximately C$1,211,653.38. This represents a 22.23% decrease in their position. Insiders sold a total of 62,990 shares of company stock worth $2,580,075 in the last quarter. 0.60% of the stock is owned by corporate insiders.

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.