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

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price reduced by equities research analysts at Canaccord Genuity Group from C$33.50 to C$30.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s target price would indicate a potential upside of 32.51% from the company’s previous close.

A number of other brokerages have also recently weighed in on ABX. Stifel Nicolaus lowered their price target on Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. Sanford C. Bernstein reduced their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. TD Securities reiterated a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their price target on shares of Barrick Gold to C$21.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, UBS Group lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$30.38.

Barrick Gold Stock Down 0.2 %

TSE ABX opened at C$22.64 on Wednesday. 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$39.62 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.34 and a beta of 0.48. The stock’s 50 day moving average is C$23.59 and its two-hundred day moving average is C$25.19. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54.

Insider Buying and Selling at Barrick Gold

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