Royal Bank of Canada 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 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 price target indicates a potential downside of 27.45% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. National Bankshares cut their price objective on Barrick Gold from C$26.00 to C$24.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Sanford C. Bernstein reduced their price objective on Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. UBS Group lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group reduced their price target on shares of Barrick Gold from C$33.50 to C$30.00 in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.23.

Barrick Gold Stock Up 0.8 %

Barrick Gold stock opened at C$26.19 on Wednesday. The business has a fifty day moving average price of C$23.25 and a 200-day moving average price of C$25.23. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$29.50. The stock has a market capitalization of C$31.83 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.34 and a beta of 0.48. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62.

Insiders Place Their Bets

In related news, Director Dennis Mark Bristow bought 85,296 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was bought 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 bought 5,778 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of C$25.03 per share, with a total value of C$144,645.87. 0.60% of the stock is currently owned by corporate insiders.

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.