Barrick Gold (TSE:ABX) Given “Buy” Rating at TD Securities

Barrick Gold (TSE:ABX) (NYSE:ABX)‘s stock had its “buy” rating reaffirmed by equities researchers at TD Securities in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. They presently have a C$34.00 target price on the basic materials company’s stock. TD Securities’ price objective points to a potential upside of 22.57% from the company’s previous close.

Several other brokerages also recently issued reports on ABX. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Canaccord Genuity Group lifted their price target on Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Finally, Eight Capital increased their price objective on shares of Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold has an average rating of “Buy” and a consensus target price of C$30.18.

Barrick Gold Price Performance

Shares of ABX traded down C$0.15 during trading hours on Wednesday, hitting C$27.74. The stock had a trading volume of 508,058 shares, compared to its average volume of 3,526,286. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$28.67. The stock has a market capitalization of C$48.55 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 1.94 and a beta of 0.49. The company’s fifty day moving average is C$26.72 and its two-hundred day moving average is C$24.58. 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 (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings data on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, topping the consensus estimate of C$0.36 by C$0.08. The company had revenue of C$4.33 billion during the quarter, compared to analyst estimates of C$4.12 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. On average, analysts anticipate that Barrick Gold will post 2.28798 EPS for the current year.

Insider Buying and Selling

In other Barrick Gold news, Senior Officer Riaan Grobler sold 94,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total value of C$1,784,693.40. In other news, Director Christopher Lewis Coleman sold 121,334 shares of the company’s stock in a transaction dated 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. Also, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. Insiders sold a total of 235,334 shares of company stock valued at $5,741,477 over the last ninety days. 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.