Barrick Gold (TSE:ABX) Stock Rating Upgraded by Citigroup

Barrick Gold (TSE:ABX) (NYSE:ABX) was upgraded by stock analysts at Citigroup from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts also recently commented on the company. National Bank Financial upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. National Bankshares lifted their price objective on shares of Barrick Gold from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 15th. Cormark upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating in a report on Tuesday, November 11th. BMO Capital Markets raised their target price on shares of Barrick Gold from C$37.00 to C$41.00 in a research note on Monday, September 22nd. Finally, Stifel Nicolaus lifted their target price on shares of Barrick Gold from C$46.00 to C$65.00 in a report on Monday, October 20th. Six research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Barrick Gold currently has an average rating of “Buy” and an average target price of C$50.50.

Barrick Gold Stock Performance

Shares of ABX opened at C$55.18 on Monday. The firm has a 50-day moving average of C$47.61 and a 200-day moving average of C$36.64. Barrick Gold has a one year low of C$21.73 and a one year high of C$56.34. The company has a market cap of C$93.11 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 2.34 and a beta of 1.18. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its earnings results on Monday, November 10th. The basic materials company reported C$0.58 earnings per share (EPS) for the quarter. Barrick Gold had a net margin of 13.19% and a return on equity of 6.90%. The business had revenue of C$3.41 billion during the quarter. As a group, equities analysts forecast that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Poupak Bahamin sold 8,402 shares of the firm’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 owned 29,400 shares in the company, valued at approximately C$1,211,653.38. This trade represents a 22.23% decrease in their ownership of the stock. Also, insider Grant Bill Beringer sold 38,000 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of C$41.13, for a total value of C$1,562,959.00. Following the completion of the transaction, the insider directly owned 107,047 shares of the company’s stock, valued at approximately C$4,402,896.63. This trade represents a 26.20% decrease in their position. In the last 90 days, insiders 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.