Barrick Gold (TSE:ABX) Price Target Cut to C$41.00 by Analysts at Citigroup

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price trimmed by Citigroup from C$48.00 to C$41.00 in a research note published on Monday morning,BayStreet.CA reports. The firm currently has a neutral rating on the basic materials company’s stock.

A number of other research analysts also recently commented on the company. 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. ATB Cormark Capital Markets downgraded Barrick Gold from a “moderate buy” rating to a “hold” rating and raised their price target for the stock from C$70.00 to C$75.00 in a research note on Tuesday, April 7th. Barclays reduced their price target on Barrick Gold from C$56.00 to C$55.00 in a report on Thursday, July 16th. Royal Bank Of Canada lowered their price target on Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Finally, JPMorgan Chase & Co. dropped their price objective on Barrick Gold from C$91.00 to C$79.00 in a report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Barrick Gold presently has an average rating of “Buy” and a consensus target price of C$70.23.

Barrick Gold Trading Up 0.8%

Shares of TSE:ABX opened at C$52.77 on Monday. The firm has a fifty day moving average of C$54.48 and a two-hundred day moving average of C$59.01. The company has a quick ratio of 2.62, a current ratio of 3.06 and a debt-to-equity ratio of 17.29. Barrick Gold has a 12-month low of C$28.95 and a 12-month high of C$74.00. The firm has a market capitalization of C$88.42 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60.

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

Insiders Place Their Bets

In related news, Director Mark Francis Hill sold 9,453 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of C$56.85, for a total value of C$537,403.05. Following the completion of the sale, the director directly owned 334,176 shares in the company, valued at approximately C$18,997,905.60. This represents a 2.75% decrease in their ownership of the stock. Also, Director Robert Ananda Paul Samek bought 10,000 shares of the stock in a transaction on Friday, June 5th. The shares were acquired 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 approximately C$1,040,634. The trade was a 112.36% increase in their ownership of the stock. Insiders sold 134,422 shares of company stock valued at $7,695,879 over the last quarter. 0.60% of the stock is currently owned by corporate 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.