National Bankshares Issues Positive Forecast for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective upped by National Bankshares from C$65.00 to C$77.50 in a research report sent to investors on Tuesday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the basic materials company’s stock.

A number of other brokerages have also recently weighed in on ABX. Citigroup upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. National Bank Financial raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Cibc World Mkts upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Stifel Nicolaus boosted their price target on shares of Barrick Gold from C$46.00 to C$65.00 in a research report on Monday, October 20th. Finally, Scotiabank raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. Seven research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$53.69.

Barrick Gold Stock Performance

TSE ABX opened at C$56.67 on Tuesday. Barrick Gold has a twelve month low of C$21.73 and a twelve month high of C$60.14. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. The stock has a market cap of C$96.68 billion, a P/E ratio of 27.25, a PEG ratio of 2.34 and a beta of 1.28. The company’s 50-day simple moving average is C$49.89 and its 200 day simple moving average is C$38.88.

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

Insider Transactions at Barrick Gold

In other Barrick Gold news, insider Poupak Bahamin sold 8,402 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of C$41.21, for a total transaction 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. Also, insider Rousseau Jooste sold 3,000 shares of Barrick Gold stock in a transaction that occurred 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 sale, 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. 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.