National Bankshares Forecasts Strong Price Appreciation for Barrick Gold (TSE:ABX) Stock

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target raised by equities researchers at National Bankshares from C$27.00 to C$33.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the basic materials company’s stock. National Bankshares’ price target points to a potential upside of 19.61% from the stock’s previous close.

Several other equities research analysts have also weighed in on ABX. Scotiabank lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Canaccord Genuity Group dropped their price objective on shares of Barrick Gold from C$33.50 to C$30.00 in a report on Wednesday, January 15th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Royal Bank of Canada raised their price objective on shares of Barrick Gold to C$19.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, UBS Group upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$31.55.

Barrick Gold Trading Down 0.8 %

ABX opened at C$27.59 on Wednesday. The firm’s fifty day moving average is C$25.02 and its two-hundred day moving average is C$25.40. The company has a debt-to-equity ratio of 19.83, a quick ratio of 2.62 and a current ratio of 2.65. The firm has a market cap of C$33.53 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. Barrick Gold has a twelve month low of C$21.08 and a twelve month high of C$29.50.

Insider Activity

In other news, Senior Officer Poupak Bahamin sold 17,633 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of C$25.96, for a total transaction of C$457,781.77. Also, Director Dennis Mark Bristow bought 230,872 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were bought at an average price of C$25.71 per share, with a total value of C$5,936,042.34. Insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

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.