Sanford C. Bernstein Increases Barrick Gold (TSE:ABX) Price Target to C$86.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price lifted by stock analysts at Sanford C. Bernstein from C$84.00 to C$86.00 in a research note issued on Friday,BayStreet.CA reports. Sanford C. Bernstein’s price target would indicate a potential upside of 24.26% from the stock’s current price.

A number of other research analysts have also recently commented on ABX. JPMorgan Chase & Co. lifted their price target on shares of Barrick Gold from C$89.00 to C$91.00 in a report on Wednesday. Citigroup raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Monday, November 24th. Canaccord Genuity Group decreased their target price on Barrick Gold from C$80.00 to C$77.00 in a research report on Wednesday, February 18th. BNP Paribas Exane upgraded Barrick Gold to a “strong-buy” rating in a report on Friday, December 5th. Finally, National Bank Financial reduced their price objective on Barrick Gold from C$82.50 to C$75.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 10th. Six research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Barrick Gold has an average rating of “Buy” and a consensus target price of C$79.63.

Barrick Gold Stock Performance

Shares of ABX opened at C$69.21 on Friday. Barrick Gold has a 12 month low of C$24.28 and a 12 month high of C$74.00. The stock has a market capitalization of C$115.95 billion, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 2.34 and a beta of 1.47. The firm’s fifty day simple moving average is C$65.52 and its two-hundred day simple moving average is C$53.37. The company has a current ratio of 2.65, a quick ratio of 2.62 and a debt-to-equity ratio of 19.83.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings data on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share for the quarter. The business had revenue of C$8.01 billion during the quarter. Barrick Gold had a net margin of 13.19% and a return on equity of 6.90%. As a group, analysts predict that Barrick Gold will post 2.2422764 EPS for the current year.

Insider Buying and Selling at Barrick Gold

In other news, Director Pekka Juhani Vauramo purchased 12,400 shares of the 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 completion of the acquisition, the director owned 12,400 shares of the company’s stock, valued at approximately C$811,084. This trade represents a ∞ increase in their ownership of the stock. Also, insider Graham Patrick Shuttleworth sold 100,000 shares of the firm’s 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 transaction, the insider owned 487,252 shares in the company, valued at C$31,534,949.44. The trade was a 17.03% decrease in their ownership of the stock. 0.60% of the stock is currently owned by company insiders.

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.