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

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price raised by equities researchers 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 suggests a potential downside of 27.45% from the stock’s current price.

Other analysts have also issued reports about the stock. Canaccord Genuity Group cut their target price on shares of Barrick Gold from C$33.50 to C$30.00 in a research note on Wednesday, January 15th. Sanford C. Bernstein dropped their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. Stifel Nicolaus decreased their price objective on shares of Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. TD Cowen reissued a “buy” rating and issued a C$36.00 target price on shares of Barrick Gold in a report on Tuesday, January 14th. Finally, UBS Group downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$30.23.

Barrick Gold Price Performance

Shares of TSE ABX opened at C$26.19 on Wednesday. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62. The company has a market cap of C$31.83 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The stock’s 50-day moving average is C$23.25 and its two-hundred day moving average is C$25.23. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$29.50.

Insiders Place Their Bets

In other news, Director Dennis Mark Bristow acquired 85,296 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average cost of C$25.03 per share, for a total transaction of C$2,135,291.53. Also, Senior Officer Poupak Bahamin sold 2,500 shares of Barrick Gold stock in a transaction dated Friday, November 29th. The shares were 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 corporate 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.