Analysts Set Barrick Gold Co. (TSE:ABX) PT at C$46.38

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have been given a consensus recommendation of “Buy” by the twelve analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and five have issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$46.38.

Several analysts recently commented on the company. BMO Capital Markets raised their target price on Barrick Gold from C$37.00 to C$41.00 in a research report on Monday, September 22nd. National Bank Financial upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Stifel Nicolaus lifted their price target on Barrick Gold from C$46.00 to C$65.00 in a research report on Monday, October 20th. Scotiabank upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Canaccord Genuity Group lifted their price target on Barrick Gold from C$39.00 to C$57.00 and gave the company a “buy” rating in a research report on Thursday, October 9th.

Barrick Gold Stock Up 0.7%

ABX opened at C$44.70 on Monday. Barrick Gold has a 12 month low of C$21.73 and a 12 month high of C$51.09. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62. The stock has a market cap of C$76.26 billion, a P/E ratio of 28.11, a P/E/G ratio of 2.34 and a beta of 1.06. The stock’s 50 day moving average price is C$43.16 and its 200 day moving average price is C$33.53.

Insider Buying and Selling

In related news, insider Rousseau Jooste sold 3,000 shares of Barrick Gold stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of C$40.70, for a total value of C$122,112.00. Following the transaction, the insider directly owned 58,237 shares in the company, valued at C$2,370,478.85. The trade was a 4.90% decrease in their position. Also, insider Joel James Holliday sold 13,588 shares of Barrick Gold stock in a transaction on Thursday, September 18th. The stock was sold at an average price of C$40.38, for a total value of C$548,735.07. Following the completion of the transaction, the insider owned 84,087 shares in the company, valued at C$3,395,752.59. The trade was a 13.91% decrease in their ownership of the stock. Over the last quarter, insiders have sold 62,990 shares of company stock valued at $2,580,075. Insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

Barrick Gold Corp is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.