Canaccord Genuity Group Has Lowered Expectations for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective lowered by research analysts at Canaccord Genuity Group from C$33.50 to C$30.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Canaccord Genuity Group’s price target suggests a potential upside of 32.45% from the stock’s previous close.

Several other brokerages have also recently issued reports on ABX. TD Cowen reaffirmed a “buy” rating and set a C$36.00 price objective on shares of Barrick Gold in a report on Tuesday. TD Securities restated a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. Sanford C. Bernstein lowered their price objective on Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. UBS Group downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price target on Barrick Gold to C$21.00 and gave the company a “buy” rating in a report on Friday, December 20th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.57.

Barrick Gold Price Performance

Shares of Barrick Gold stock traded up C$0.29 on Wednesday, hitting C$22.65. 985,610 shares of the company were exchanged, compared to its average volume of 3,062,739. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$29.50. The company has a 50-day moving average price of C$23.65 and a 200 day moving average price of C$25.19. The stock has a market capitalization of C$39.64 billion, a price-to-earnings ratio of 19.03, 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 3.01 and a debt-to-equity ratio of 14.54.

Insider Buying and Selling

In other news, Director Dennis Mark Bristow acquired 85,296 shares of the company’s stock in a transaction dated 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. Also, Senior Officer Poupak Bahamin sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of C$24.49, for a total value of C$61,215.00. 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.