Cibc World Mkts Downgrades Barrick Gold (TSE:ABX) to Hold

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

ABX has been the subject of a number of other reports. TD Securities reiterated 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 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. UBS Group cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Stifel Nicolaus raised their price objective on shares of Barrick Gold from C$28.50 to C$33.50 in a research note on Monday, October 21st. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$31.14.

Barrick Gold Price Performance

Shares of TSE:ABX opened at C$24.69 on Monday. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. The company has a market cap of C$43.21 billion, a P/E ratio of 20.75, a PEG 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 company has a 50-day moving average price of C$26.69 and a 200 day moving average price of C$25.17.

Insider Activity

In related news, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction on 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 Barrick Gold stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average price of C$25.03 per share, for a total transaction of C$144,645.87. Corporate insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

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.