Canaccord Genuity Group Lowers Barrick Gold (TSE:ABX) Price Target to C$30.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective decreased by stock analysts at Canaccord Genuity Group from C$33.50 to C$30.00 in a report released on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s target price would suggest a potential upside of 32.51% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada increased their price objective on Barrick Gold to C$21.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. 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. TD Securities reaffirmed a “buy” rating and set a C$34.00 price objective on shares of Barrick Gold in a research report on Wednesday, October 16th. Stifel Nicolaus cut their target price on shares of Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. Finally, Cibc World Mkts cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.38.

Barrick Gold Stock Performance

Barrick Gold stock opened at C$22.64 on Wednesday. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$29.50. The firm’s 50 day simple moving average is C$23.59 and its 200-day simple moving average is C$25.19. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. The company has a market cap of C$39.62 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48.

Insider Transactions at Barrick Gold

In other news, Senior Officer Poupak Bahamin sold 2,500 shares of Barrick Gold stock in a transaction dated Friday, November 29th. The stock was sold at an average price of C$24.49, for a total value of C$61,215.00. Also, Director Dennis Mark Bristow bought 85,296 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average price of C$25.03 per share, with a total value of C$2,135,291.53. 0.60% of the stock is owned by corporate insiders.

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.