Barrick Gold (TSE:ABX) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price upped by equities researchers at BMO Capital Markets from C$55.00 to C$65.00 in a report issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ target price points to a potential upside of 18.05% from the company’s current price.

Several other equities research analysts have also commented on the stock. Stifel Nicolaus upped their price target on shares of Barrick Gold from C$65.00 to C$95.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. upped their price target on shares of Barrick Gold from C$89.00 to C$91.00 in a report on Wednesday, February 25th. ATB Cormark Capital Markets lowered shares of Barrick Gold from a “moderate buy” rating to a “hold” rating and upped their price target for the company from C$70.00 to C$75.00 in a report on Tuesday, April 7th. Sanford C. Bernstein upped their price target on shares of Barrick Gold from C$86.00 to C$91.00 in a report on Monday. Finally, National Bank Financial lowered their price target on shares of Barrick Gold from C$75.00 to C$72.50 and set an “outperform” rating on the stock in a report on Friday, April 17th. 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 company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$79.06.

Barrick Gold Price Performance

TSE ABX opened at C$55.06 on Wednesday. The firm’s fifty day simple moving average is C$59.98 and its two-hundred day simple moving average is C$58.13. The company has a current ratio of 2.92, a quick ratio of 2.62 and a debt-to-equity ratio of 17.89. Barrick Gold has a 12-month low of C$24.29 and a 12-month high of C$74.00. The firm has a market capitalization of C$92.25 billion, a P/E ratio of 18.79, a P/E/G ratio of 2.34 and a beta of 1.61.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings results on Thursday, February 5th. The basic materials company reported C$1.43 EPS 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 during the quarter. Analysts forecast that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Insider Transactions at Barrick Gold

In other Barrick Gold 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 completion of the transaction, the insider owned 487,252 shares in the company, valued at approximately C$31,534,949.44. This represents a 17.03% decrease in their ownership of the stock. Also, Director Pekka Juhani Vauramo purchased 12,400 shares of Barrick Gold stock in a transaction that occurred on Thursday, February 12th. The shares were bought at an average price of C$65.41 per share, with a total value of C$811,084.00. Following the transaction, the director owned 12,400 shares in the company, valued at approximately C$811,084. The trade was a ∞ increase in their ownership of the stock. Corporate 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.