Key Points
- Barrick Gold director Mark Francis Hill sold 88,000 shares on May 28 at an average price of C$57.85, for total proceeds of about C$5.09 million. After the sale, he still held 380,598 shares, a decrease of 18.78% in his ownership.
- Barrick Gold shares were up 2.3% and opened at C$58.90, near their 50-day moving average of C$56.72 and below the 200-day average of C$60.04. The stock has ranged from C$25.94 to C$74.00 over the past 52 weeks.
- Analysts remain broadly positive on the stock, with a consensus rating of “Buy” and an average price target of C$76.78. Recent calls were mixed, including a downgrade from ATB Cormark to hold and a price target increase from Stifel Nicolaus to C$95.00.
Barrick Gold Co. (TSE:ABX - Get Free Report) (NYSE:ABX) Director Mark Francis Hill sold 88,000 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of C$57.85, for a total transaction of C$5,090,800.00. Following the completion of the transaction, the director owned 380,598 shares of the company's stock, valued at approximately C$22,017,594.30. This trade represents a 18.78% decrease in their ownership of the stock.
Barrick Gold Trading Up 2.3%
Shares of TSE ABX opened at C$58.90 on Friday. The company has a debt-to-equity ratio of 17.29, a quick ratio of 2.62 and a current ratio of 3.06. Barrick Gold Co. has a 52-week low of C$25.94 and a 52-week high of C$74.00. The firm has a 50 day moving average price of C$56.72 and a two-hundred day moving average price of C$60.04. The stock has a market cap of C$98.69 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 2.34 and a beta of 1.62.
Barrick Gold (TSE:ABX - Get Free Report) (NYSE:ABX) last announced its quarterly earnings results on Monday, May 11th. The basic materials company reported C$1.36 earnings per share (EPS) for the quarter. Barrick Gold had a net margin of 32.04% and a return on equity of 23.48%. The firm had revenue of C$5.81 billion during the quarter. As a group, equities analysts forecast that Barrick Gold Co. will post 2.2422764 EPS for the current year.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. ATB Cormark Capital Markets lowered shares of Barrick Gold from a "moderate buy" rating to a "hold" rating and upped their price objective for the company from C$70.00 to C$75.00 in a research note on Tuesday, April 7th. Stifel Nicolaus upped their price objective on shares of Barrick Gold from C$65.00 to C$95.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Canaccord Genuity Group reduced their price objective on shares of Barrick Gold from C$80.00 to C$77.00 in a research note on Wednesday, February 18th. Barclays set a C$56.00 price objective on shares of Barrick Gold and gave the company an "equal weight" rating in a research note on Friday, May 22nd. Finally, National Bank Financial upped their price objective on shares of Barrick Gold from C$72.50 to C$75.00 and gave the company an "outperform" rating in a research note on Tuesday, May 12th. Five analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of C$76.78.
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Barrick Gold Company Profile
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Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry - including six of the world's Tier One gold mines -Barrick's operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. We create real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth.
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