Barrick Gold (TSE:ABX) Downgraded by UBS Group to “Hold”

Barrick Gold (TSE:ABX) (NYSE:ABX) was downgraded by investment analysts at UBS Group from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group boosted their price target on shares of Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. TD Securities reissued a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a research note on Wednesday, October 16th. Stifel Nicolaus raised their price target on Barrick Gold from C$28.50 to C$33.50 in a research report on Monday, October 21st. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Eight Capital raised their target price on shares of Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.77.

Barrick Gold Trading Down 1.2 %

TSE ABX opened at C$27.88 on Wednesday. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.50. The stock has a 50-day simple moving average of C$27.43 and a 200 day simple moving average of C$24.98. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. The company has a market capitalization of C$48.79 billion, a PE ratio of 23.43, a P/E/G ratio of 2.34 and a beta of 0.48.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 EPS for the quarter, beating analysts’ consensus estimates of C$0.36 by C$0.08. The company had revenue of C$4.33 billion during the quarter, compared to analysts’ expectations of C$4.12 billion. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. Research analysts forecast that Barrick Gold will post 2.2422764 EPS for the current year.

Insider Buying and Selling at Barrick Gold

In other Barrick Gold news, Director Andrew James Quinn acquired 5,000 shares of Barrick Gold stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of C$26.00 per share, for a total transaction of C$129,999.00. In related news, Director Andrew James Quinn acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of C$26.00 per share, with a total value of C$129,999.00. Also, Senior Officer Riaan Grobler sold 94,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. In the last three months, insiders have sold 235,334 shares of company stock worth $5,741,477. Insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

Barrick Gold Corporation engages in the exploration, mine development, production, and sale of gold and copper properties in Canada and internationally. The company also explores and sells silver and energy materials. It has ownership interests in producing gold mines located in Argentina, Canada, Côte d’Ivoire, the Democratic Republic of Congo, the Dominican Republic, Mali, Tanzania, and the United States.