Barrick Gold (TSE:ABX) Downgraded by Cibc World Mkts to “Hold”

Barrick Gold (TSE:ABX) (NYSE:ABX) was downgraded by equities researchers at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on ABX. Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. UBS Group lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Sanford C. Bernstein reduced their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. Stifel Nicolaus increased their target price on shares of Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. Finally, TD Securities reaffirmed a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of C$31.14.

Barrick Gold Stock Performance

Barrick Gold stock opened at C$24.73 on Monday. The firm’s fifty day moving average price is C$26.73 and its 200-day moving average price is C$25.17. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. The stock has a market cap of C$43.28 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$29.50.

Insiders Place Their Bets

In other news, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. Also, Senior Officer Poupak Bahamin bought 5,778 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were bought at an average cost of C$25.03 per share, for a total transaction of C$144,645.87. Insiders own 0.60% of the company’s stock.

About Barrick Gold

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.