Barrick Gold (TSE:ABX) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price raised by stock analysts at Royal Bank of Canada to C$21.00 in a research note issued on Friday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective would suggest a potential downside of 5.49% from the stock’s previous close.

A number of other research analysts have also recently issued reports on ABX. TD Securities reaffirmed a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a report on Wednesday, October 16th. Stifel Nicolaus cut their price target on Barrick Gold from C$33.50 to C$32.00 in a research note on Monday, December 2nd. Sanford C. Bernstein decreased their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. UBS Group lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and an average target price of C$30.17.

Barrick Gold Price Performance

Shares of TSE:ABX opened at C$22.22 on Friday. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. 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 capitalization of C$38.89 billion, a PE ratio of 18.67, a PEG ratio of 2.34 and a beta of 0.48. The business has a fifty day moving average price of C$25.43 and a 200-day moving average price of C$25.25.

Insider Transactions at Barrick Gold

In other news, Director Dennis Mark Bristow bought 85,296 shares of the 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. Also, Director Christopher Lewis Coleman sold 121,334 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total value of C$3,409,485.40. 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.