TD Securities Reiterates “Buy” Rating for Barrick Gold (TSE:ABX)

Barrick Gold (TSE:ABX) (NYSE:ABX)‘s stock had its “buy” rating reissued by investment analysts at TD Securities in a research note issued to investors on Wednesday, Stock Target Advisor reports. They presently have a C$34.00 price target on the basic materials company’s stock. TD Securities’ price objective suggests a potential upside of 22.57% from the company’s current price.

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

Barrick Gold Stock Down 0.5 %

Shares of TSE:ABX traded down C$0.15 during trading on Wednesday, hitting C$27.74. 508,058 shares of the company’s stock traded hands, compared to its average volume of 3,526,286. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. The company has a 50-day moving average price of C$26.72 and a 200-day moving average price of C$24.58. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$28.67. The company has a market cap of C$48.55 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 1.94 and a beta of 0.49.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.36 by C$0.08. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. The firm had revenue of C$4.33 billion for the quarter, compared to analyst estimates of C$4.12 billion. As a group, research analysts forecast that Barrick Gold will post 2.28798 EPS for the current fiscal year.

Insider Transactions at Barrick Gold

In related news, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold stock in a transaction dated 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. In related news, Director Andrew James Quinn acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of C$26.00 per share, for a total transaction of C$129,999.00. Also, Senior Officer Riaan Grobler sold 94,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. Insiders have sold 235,334 shares of company stock worth $5,741,477 in 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.