Barrick Gold (TSE:ABX) Downgraded by ATB Cormark Capital Markets to Sector Perform

ATB Cormark Capital Markets downgraded shares of Barrick Gold (TSE:ABX) (NYSE:ABX) from an outperform rating to a sector perform rating in a research note released on Tuesday,BayStreet.CA reports. They currently have C$75.00 price target on the basic materials company’s stock, up from their previous price target of C$70.00.

A number of other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Barrick Gold from C$89.00 to C$91.00 in a research report on Wednesday, February 25th. Sanford C. Bernstein upped their target price on Barrick Gold from C$84.00 to C$86.00 in a report on Friday, February 27th. DZ Bank upgraded Barrick Gold to a “strong-buy” rating in a report on Monday, January 19th. National Bank Financial reduced their target price on Barrick Gold from C$82.50 to C$75.00 and set an “outperform” rating on the stock in a report on Tuesday, February 10th. Finally, Stifel Nicolaus upped their target price on Barrick Gold from C$65.00 to C$95.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Five investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$77.25.

Barrick Gold Stock Up 0.6%

Shares of Barrick Gold stock opened at C$57.57 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 2.62 and a debt-to-equity ratio of 17.89. The company’s fifty day simple moving average is C$61.47 and its two-hundred day simple moving average is C$57.35. The company has a market cap of C$96.45 billion, a P/E ratio of 19.65, a PEG ratio of 2.34 and a beta of 1.61. Barrick Gold has a 12-month low of C$24.29 and a 12-month high of C$74.00.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share (EPS) for the quarter. The business had revenue of C$8.01 billion for the quarter. Barrick Gold had a net margin of 29.39% and a return on equity of 19.79%. Research analysts anticipate that Barrick Gold will post 2.2422764 EPS for the current year.

Insider Transactions at Barrick Gold

In other news, insider Graham Patrick Shuttleworth sold 100,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of C$64.72, for a total value of C$6,472,000.00. Following the sale, the insider directly owned 487,252 shares of the company’s stock, valued at C$31,534,949.44. This represents a 17.03% decrease in their position. Also, Director Pekka Juhani Vauramo bought 12,400 shares of Barrick Gold stock in a transaction dated Thursday, February 12th. The stock was acquired at an average cost of C$65.41 per share, for a total transaction of C$811,084.00. Following the completion of the transaction, the director directly owned 12,400 shares in the company, valued at approximately C$811,084. This trade represents a ∞ increase in their ownership of the stock. 0.60% of the stock is owned by corporate insiders.

About Barrick Gold

Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry – including six of the world’s Tier One gold mines -Barrick’s operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth.