Stifel Nicolaus Lowers Barrick Gold (TSE:ABX) Price Target to C$32.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective decreased by investment analysts at Stifel Nicolaus from C$33.50 to C$32.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. Stifel Nicolaus’ price target suggests a potential upside of 31.31% from the company’s current price.

A number of other research firms have also issued reports on ABX. UBS Group lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Sanford C. Bernstein reduced their target price on Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. TD Securities reaffirmed a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research note on Wednesday, October 16th. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$31.00.

Barrick Gold Price Performance

Shares of TSE:ABX traded down C$0.15 on Monday, reaching C$24.37. 611,434 shares of the company traded hands, compared to its average volume of 3,565,352. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$29.50. The company’s 50 day moving average is C$26.51 and its 200-day moving average is C$25.24. The stock has a market capitalization of C$42.65 billion, a PE ratio of 20.48, a P/E/G ratio of 2.34 and a beta of 0.48. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62.

Insider Activity

In related news, Director Christopher Lewis Coleman sold 121,334 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total value of C$3,409,485.40. Also, Director Dennis Mark Bristow bought 85,296 shares of Barrick Gold stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average price of C$25.03 per share, with a total value of C$2,135,291.53. Over the last ninety days, insiders have sold 143,834 shares of company stock valued at $4,017,999. 0.60% of the stock is owned by insiders.

Barrick Gold Company Profile

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.