Barrick Gold (TSE:ABX) Stock Price Expected to Rise, National Bankshares Analyst Says

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target raised by National Bankshares from C$27.00 to C$33.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has a sector perform rating on the basic materials company’s stock.

Several other brokerages also recently weighed in on ABX. Canaccord Genuity Group cut their price target on Barrick Gold from C$33.50 to C$30.00 in a report on Wednesday, January 15th. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. UBS Group upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Scotiabank downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada increased their price objective on Barrick Gold to C$19.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Three analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$31.55.

Barrick Gold Price Performance

Shares of TSE ABX opened at C$27.05 on Wednesday. The stock’s 50-day moving average is C$25.11 and its two-hundred day moving average is C$25.40. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62. Barrick Gold has a 1-year low of C$21.08 and a 1-year high of C$29.50. The company has a market cap of C$32.88 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48.

Insiders Place Their Bets

In other Barrick Gold news, Director Dennis Mark Bristow acquired 230,872 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were purchased at an average price of C$25.71 per share, with a total value of C$5,936,042.34. Also, Senior Officer Poupak Bahamin sold 17,633 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of C$25.96, for a total value of C$457,781.77. 0.60% of the stock is owned by insiders.

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.