JPMorgan Chase & Co. Has Lowered Expectations for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective lowered by analysts at JPMorgan Chase & Co. from C$91.00 to C$79.00 in a research note issued to investors on Thursday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 40.72% from the stock’s current price.

A number of other equities research analysts also recently issued reports on ABX. Canaccord Genuity Group cut their target price on shares of Barrick Gold from C$80.00 to C$77.00 in a research report on Wednesday, February 18th. DZ Bank upgraded shares of Barrick Gold to a “strong-buy” rating in a report on Monday, January 19th. BMO Capital Markets raised their price target on shares of Barrick Gold from C$55.00 to C$65.00 in a report on Wednesday. ATB Cormark Capital Markets downgraded shares of Barrick Gold from a “moderate buy” rating to a “hold” rating and raised their price target for the company from C$70.00 to C$75.00 in a report on Tuesday, April 7th. Finally, Stifel Nicolaus raised 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. Five 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$79.06.

Barrick Gold Stock Up 2.0%

ABX stock opened at C$56.14 on Thursday. Barrick Gold has a 12-month low of C$24.29 and a 12-month high of C$74.00. The company has a quick ratio of 2.62, a current ratio of 2.92 and a debt-to-equity ratio of 17.89. The company has a market cap of C$94.06 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 2.34 and a beta of 1.61. The company has a 50 day moving average of C$59.79 and a two-hundred day moving average of C$58.19.

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

Insiders Place Their Bets

In other news, insider Graham Patrick Shuttleworth sold 100,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of C$64.72, for a total transaction of C$6,472,000.00. Following the transaction, the insider owned 487,252 shares in the company, valued at approximately C$31,534,949.44. This trade represents a 17.03% decrease in their position. Also, Director Pekka Juhani Vauramo purchased 12,400 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were acquired 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 C$811,084. This represents a ∞ increase in their position. 0.60% of the stock is currently owned by company insiders.

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.