Barrick Gold (TSE:ABX) Price Target Raised to C$91.00 at Sanford C. Bernstein

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price boosted by Sanford C. Bernstein from C$86.00 to C$91.00 in a research report released on Monday,BayStreet.CA reports.

Several other equities research analysts have also recently issued reports on ABX. JPMorgan Chase & Co. raised their target price on Barrick Gold from C$89.00 to C$91.00 in a research note on Wednesday, February 25th. Stifel Nicolaus upped their price target on Barrick Gold from C$65.00 to C$95.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. ATB Cormark Capital Markets cut Barrick Gold from a “moderate buy” rating to a “hold” rating and increased their price target for the stock from C$70.00 to C$75.00 in a report on Tuesday, April 7th. National Bank Financial cut their price objective on Barrick Gold from C$75.00 to C$72.50 and set an “outperform” rating for the company in a research report on Friday. Finally, Canaccord Genuity Group cut their price objective on Barrick Gold from C$80.00 to C$77.00 in a research report on Wednesday, February 18th. Five equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$77.56.

Barrick Gold Stock Performance

TSE:ABX opened at C$58.70 on Monday. The company’s 50-day moving average is C$60.46 and its two-hundred day moving average is C$58.11. Barrick Gold has a 1-year low of C$24.29 and a 1-year high of C$74.00. 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 capitalization of C$98.35 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 2.34 and a beta of 1.61.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results 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 during the quarter. Barrick Gold had a net margin of 29.39% and a return on equity of 19.79%. Analysts forecast that Barrick Gold will post 2.2422764 EPS for the current year.

Insider Buying and Selling at Barrick Gold

In other news, insider Graham Patrick Shuttleworth sold 100,000 shares of Barrick Gold stock in a transaction on 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 completion of the sale, the insider directly owned 487,252 shares of the company’s stock, valued at approximately C$31,534,949.44. The trade was a 17.03% decrease in their ownership of the stock. Also, Director Pekka Juhani Vauramo acquired 12,400 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average price of C$65.41 per share, for a total transaction of C$811,084.00. Following the acquisition, the director directly owned 12,400 shares in the company, valued at approximately C$811,084. This trade represents a ∞ increase in their position. Company insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

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.