Barrick Gold (TSE:ABX) Releases Quarterly Earnings Results

Barrick Gold (TSE:ABX) (NYSE:ABX) posted its quarterly earnings data on Monday. The basic materials company reported C$0.76 EPS for the quarter, FiscalAI reports. Barrick Gold had a return on equity of 6.90% and a net margin of 13.19%.The company had revenue of C$5.78 billion during the quarter.

Barrick Gold Trading Up 3.9%

Shares of Barrick Gold stock traded up C$1.94 on Wednesday, reaching C$52.12. The company had a trading volume of 1,333,448 shares, compared to its average volume of 4,373,483. The firm has a market cap of C$88.92 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 2.34 and a beta of 1.18. 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 firm’s 50-day moving average price is C$45.01 and its two-hundred day moving average price is C$34.78. Barrick Gold has a 1 year low of C$21.73 and a 1 year high of C$52.62.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group increased their price objective on shares of Barrick Gold from C$39.00 to C$57.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Scotiabank raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. National Bankshares lifted their price target on shares of Barrick Gold from C$60.00 to C$65.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. National Bank Financial raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Finally, BMO Capital Markets lifted their target price on Barrick Gold from C$37.00 to C$41.00 in a report on Monday, September 22nd. Five research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$46.38.

Insider Buying and Selling

In other news, insider Poupak Bahamin sold 8,402 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of C$41.21, for a total transaction of C$346,269.11. Following the transaction, the insider owned 29,400 shares of the company’s stock, valued at approximately C$1,211,653.38. This represents a 22.23% decrease in their ownership of the stock. Also, insider Joel James Holliday sold 13,588 shares of the stock in a transaction that occurred 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 sale, the insider owned 84,087 shares in the company, valued at approximately C$3,395,752.59. The trade was a 13.91% decrease in their ownership of the stock. Insiders have sold 62,990 shares of company stock valued at $2,580,075 in the last three months. Corporate insiders own 0.60% of the company’s stock.

About Barrick Gold

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.