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

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target lifted by analysts at Sanford C. Bernstein from C$84.00 to C$86.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Sanford C. Bernstein’s price target would suggest a potential upside of 24.71% from the stock’s previous close.

Several other analysts have also commented on ABX. DZ Bank raised shares of Barrick Gold to a “strong-buy” rating in a research note on Monday, January 19th. JPMorgan Chase & Co. lifted their target price on Barrick Gold from C$89.00 to C$91.00 in a research note on Wednesday. ATB Cormark Capital Markets cut their price objective on Barrick Gold from C$100.00 to C$94.00 and set a “moderate buy” rating for the company in a report on Monday, February 9th. National Bank Financial cut their price objective on shares of Barrick Gold from C$82.50 to C$75.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 10th. Finally, Cormark boosted their price target on Barrick Gold from C$66.00 to C$78.00 in a research report on Tuesday, November 25th. Six investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Barrick Gold currently has a consensus rating of “Buy” and a consensus price target of C$79.63.

Barrick Gold Stock Performance

Shares of TSE ABX traded up C$0.08 during midday trading on Friday, reaching C$68.96. 1,242,506 shares of the company traded hands, compared to its average volume of 6,531,225. The company has a market cap of C$115.53 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 2.34 and a beta of 1.47. 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 50-day moving average price of C$65.36 and a 200 day moving average price of C$52.96. Barrick Gold has a 52 week low of C$24.28 and a 52 week high of C$74.00.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings results on Thursday, February 5th. The basic materials company reported C$1.43 earnings per share for the quarter. The company 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%. Sell-side analysts anticipate that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Graham Patrick Shuttleworth sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of C$64.72, for a total transaction of C$6,472,000.00. Following the completion of the transaction, the insider directly owned 487,252 shares of the company’s stock, valued at approximately C$31,534,949.44. This trade represents a 17.03% decrease in their position. Also, Director Pekka Juhani Vauramo purchased 12,400 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were acquired at an average price of C$65.41 per share, with a total value of C$811,084.00. Following the purchase, 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. 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.