Royal Bank of Canada Boosts Barrick Gold (TSE:ABX) Price Target to C$19.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price hoisted by research analysts at Royal Bank of Canada to C$19.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Royal Bank of Canada’s target price points to a potential downside of 22.19% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. TD Securities reissued a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. Sanford C. Bernstein decreased their target price on Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. National Bankshares cut their price target on Barrick Gold from C$26.00 to C$24.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Scotiabank downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, UBS Group lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of C$30.23.

Barrick Gold Stock Down 2.0 %

Shares of Barrick Gold stock opened at C$24.42 on Wednesday. The firm has a market cap of C$42.74 billion, a PE ratio of 20.52, a P/E/G ratio of 2.34 and a beta of 0.48. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$29.50. The business’s 50 day simple moving average is C$23.22 and its 200 day simple moving average is C$25.22. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01.

Insider Buying and Selling

In related news, Director Dennis Mark Bristow purchased 85,296 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were bought at an average cost of C$25.03 per share, with a total value of C$2,135,291.53. Also, Senior Officer Poupak Bahamin sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of C$24.49, for a total transaction of C$61,215.00. 0.60% of the stock is currently owned by company insiders.

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.