Barrick Gold (TSE:ABX) Stock Rating Lowered by Scotiabank

Barrick Gold (TSE:ABX) (NYSE:ABX) was downgraded by equities researchers at Scotiabank from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the company. National Bankshares lowered their price target on Barrick Gold from C$26.00 to C$24.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Sanford C. Bernstein decreased their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. Canaccord Genuity Group dropped their price target on shares of Barrick Gold from C$33.50 to C$30.00 in a research note on Wednesday, January 15th. TD Cowen reissued a “buy” rating and issued a C$36.00 target price on shares of Barrick Gold in a report on Tuesday, January 14th. Finally, Royal Bank of Canada lifted their price objective on shares of Barrick Gold to C$21.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$30.38.

Barrick Gold Trading Down 1.0 %

Shares of Barrick Gold stock opened at C$22.66 on Tuesday. 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 stock’s 50 day simple moving average is C$23.43 and its 200-day simple moving average is C$25.20. The stock has a market cap of C$39.66 billion, a P/E ratio of 19.04, a P/E/G ratio of 2.34 and a beta of 0.48. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$29.50.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported C$0.42 earnings per share for the quarter, missing the consensus estimate of C$0.45 by C($0.03). Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. During the same quarter last year, the firm posted $0.32 EPS. Analysts predict that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Insider Activity

In other Barrick Gold news, Senior Officer Poupak Bahamin sold 2,500 shares of the company’s stock in a transaction that occurred on 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 acquired 85,296 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average price of C$25.03 per share, for a total transaction of C$2,135,291.53. Corporate 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.