Raymond James Financial Cuts Barrick Gold (TSE:ABX) Price Target to C$56.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target reduced by Raymond James Financial from C$58.00 to C$56.00 in a report published on Tuesday,BayStreet.CA reports. They currently have an outperform rating on the basic materials company’s stock.

A number of other brokerages have also recently commented on ABX. ATB Cormark Capital Markets dropped their price objective on shares of Barrick Gold from C$60.00 to C$57.00 and set a “sector perform” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Barrick Gold from C$91.00 to C$79.00 in a report on Thursday, April 23rd. Barclays dropped their price target on Barrick Gold from C$56.00 to C$55.00 in a research report on Thursday, July 16th. Sanford C. Bernstein upped their price objective on Barrick Gold from C$86.00 to C$91.00 in a research report on Monday, April 20th. Finally, Royal Bank Of Canada dropped their target price on Barrick Gold from C$51.00 to C$49.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$68.00.

Barrick Gold Trading Down 0.7%

Shares of Barrick Gold stock opened at C$57.08 on Tuesday. Barrick Gold has a twelve month low of C$32.34 and a twelve month high of C$74.00. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 17.15. The business has a 50-day moving average price of C$53.81 and a 200-day moving average price of C$57.82. The firm has a market cap of C$95.64 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 2.34 and a beta of 1.60.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its earnings results on Monday, August 10th. The basic materials company reported C$1.17 EPS for the quarter. The company had revenue of C$6.06 billion for the quarter. Barrick Gold had a return on equity of 24.45% and a net margin of 31.63%. Equities research analysts anticipate that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Mark Francis Hill sold 88,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of C$57.85, for a total value of C$5,090,800.00. Following the sale, the director directly owned 380,598 shares in the company, valued at approximately C$22,017,594.30. This represents a 18.78% decrease in their ownership of the stock. Also, Director Robert Ananda Paul Samek purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of C$55.06 per share, with a total value of C$550,600.00. Following the completion of the purchase, the director directly owned 18,900 shares in the company, valued at C$1,040,634. The trade was a 112.36% increase in their position. In the last ninety days, insiders have sold 134,422 shares of company stock worth $7,695,879. 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.