UBS Group Upgrades Barrick Gold (TSE:ABX) to “Strong-Buy”

UBS Group upgraded shares of Barrick Gold (TSE:ABX) (NYSE:ABX) from a hold rating to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

A number of other analysts have also commented on ABX. Scotiabank lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Sanford C. Bernstein cut their price target on Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Stifel Nicolaus lowered their price objective on Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. TD Cowen reiterated a “buy” rating and issued a C$36.00 target price on shares of Barrick Gold in a report on Tuesday, January 14th. Finally, Canaccord Genuity Group lowered their target price on Barrick Gold from C$33.50 to C$30.00 in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$30.73.

Barrick Gold Stock Performance

TSE:ABX opened at C$26.48 on Wednesday. The stock’s 50-day simple moving average is C$24.05 and its 200 day simple moving average is C$25.30. The firm has a market capitalization of C$32.18 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The company has a quick ratio of 2.62, a current ratio of 2.65 and a debt-to-equity ratio of 19.83. Barrick Gold has a twelve month low of C$20.65 and a twelve month high of C$29.50.

Insider Activity at Barrick Gold

In other news, Director Dennis Mark Bristow bought 230,872 shares of the stock in a transaction on Tuesday, February 25th. The shares were purchased at an average cost of C$25.71 per share, for a total transaction of C$5,936,042.34. Also, Senior Officer Poupak Bahamin sold 17,633 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of C$25.96, for a total value of C$457,781.77. 0.60% of the stock is owned by insiders.

About Barrick Gold

Barrick Gold Corp is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.