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

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective increased by investment analysts at Royal Bank of Canada to C$19.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The firm presently has a “buy” rating on the basic materials company’s stock. Royal Bank of Canada’s target price would suggest a potential downside of 22.19% from the stock’s previous close.

A number of other analysts have also commented on the company. Canaccord Genuity Group decreased their target price on Barrick Gold from C$33.50 to C$30.00 in a research report on Wednesday, January 15th. National Bankshares decreased their price objective 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. TD Securities reiterated a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. Sanford C. Bernstein reduced their price target on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. Finally, Scotiabank downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$30.23.

Barrick Gold Trading Down 2.0 %

ABX opened at C$24.42 on Wednesday. The company has a fifty day moving average price of C$23.22 and a two-hundred day moving average price of C$25.22. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$29.50. The company has a market cap of C$42.74 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54.

Insiders Place Their Bets

In related news, Senior Officer Poupak Bahamin acquired 5,778 shares of the stock in a transaction on Thursday, November 21st. The shares were acquired at an average price of C$25.03 per share, with a total value of C$144,645.87. Also, Director Dennis Mark Bristow bought 85,296 shares of Barrick Gold stock in a transaction dated 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. 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.