National Bank Financial Issues Pessimistic Forecast for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price cut by equities research analysts at National Bank Financial from C$75.00 to C$72.50 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the basic materials company’s stock. National Bank Financial’s price target points to a potential upside of 22.16% from the company’s current price.

ABX has been the topic of several other reports. Sanford C. Bernstein raised 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 research note on Monday, January 19th. JPMorgan Chase & Co. lifted their price objective on Barrick Gold from C$89.00 to C$91.00 in a research note on Wednesday, February 25th. Canaccord Genuity Group dropped their price objective on Barrick Gold from C$80.00 to C$77.00 in a research note on Wednesday, February 18th. Finally, Stifel Nicolaus lifted their price objective on Barrick Gold from C$65.00 to C$95.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Five analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$76.94.

Barrick Gold Price Performance

TSE ABX opened at C$59.35 on Friday. Barrick Gold has a fifty-two week low of C$24.29 and a fifty-two week high of C$74.00. The stock’s 50-day moving average is C$60.56 and its two-hundred day moving average is C$57.95. The company has a debt-to-equity ratio of 17.89, a current ratio of 2.92 and a quick ratio of 2.62. The firm has a market cap of C$99.44 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 2.34 and a beta of 1.61.

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

Insider Transactions at Barrick Gold

In other news, Director Pekka Juhani Vauramo bought 12,400 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average cost of C$65.41 per share, with a total value of C$811,084.00. Following the completion of the transaction, the director directly owned 12,400 shares in the company, valued at C$811,084. This represents a ∞ increase in their ownership of the stock. Also, insider Graham Patrick Shuttleworth sold 100,000 shares of Barrick Gold stock in a transaction dated Tuesday, February 10th. The stock was 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 in the company, valued at approximately C$31,534,949.44. This trade represents a 17.03% decrease in their ownership of the stock. Insiders own 0.60% of the company’s stock.

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.