Barclays Issues Pessimistic Forecast for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target cut by Barclays from C$56.00 to C$55.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. Barclays‘s target price points to a potential upside of 12.43% from the company’s previous close.

Several other equities analysts have also recently issued reports on ABX. Sanford C. Bernstein boosted their target price on Barrick Gold from C$86.00 to C$91.00 in a research note on Monday, April 20th. BMO Capital Markets raised their price target on Barrick Gold from C$55.00 to C$65.00 in a research note on Wednesday, April 22nd. National Bank Financial cut their price target on shares of Barrick Gold from C$75.00 to C$67.50 and set an “outperform” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Barrick Gold from C$91.00 to C$79.00 in a research report on Thursday, April 23rd. Finally, ATB Cormark Capital Markets cut shares of Barrick Gold from a “moderate buy” rating to a “hold” rating and raised their target price for the stock from C$70.00 to C$75.00 in a research report on Tuesday, April 7th. Five research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$73.15.

Barrick Gold Stock Down 0.0%

TSE ABX opened at C$48.92 on Thursday. The company has a debt-to-equity ratio of 17.29, a current ratio of 3.06 and a quick ratio of 2.62. The stock has a market capitalization of C$81.97 billion, a PE ratio of 13.51, a PEG ratio of 2.34 and a beta of 1.60. Barrick Gold has a 1 year low of C$28.38 and a 1 year high of C$74.00. The business’s 50-day moving average is C$55.46 and its 200 day moving average is C$59.43.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Monday, May 11th. The basic materials company reported C$1.36 earnings per share (EPS) for the quarter. Barrick Gold had a return on equity of 23.58% and a net margin of 32.14%.The company had revenue of C$5.81 billion for the quarter. Sell-side analysts forecast that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insider Activity at Barrick Gold

In other news, Director Robert Ananda Paul Samek purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average cost of C$55.06 per share, for a total transaction of C$550,600.00. Following the completion of the transaction, the director directly owned 18,900 shares of the company’s stock, valued at C$1,040,634. This trade represents a 112.36% increase in their position. Also, Director Mark Francis Hill sold 88,000 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of C$57.85, for a total value of C$5,090,800.00. Following the completion of the sale, the director directly owned 380,598 shares in the company, valued at approximately C$22,017,594.30. The trade was a 18.78% decrease in their ownership of the stock. Insiders sold a total of 134,422 shares of company stock valued at $7,695,879 in the last three months. 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.