Barrick Gold (TSE:ABX) Stock Rating Lowered by Scotiabank

Barrick Gold (TSE:ABX) (NYSE:ABX) was downgraded by investment analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group decreased their target price on Barrick Gold from C$33.50 to C$30.00 in a report on Wednesday, January 15th. UBS Group cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Stifel Nicolaus cut their price objective on Barrick Gold from C$33.50 to C$32.00 in a research note on Monday, December 2nd. National Bankshares decreased their target price on shares of Barrick Gold from C$26.00 to C$24.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Finally, Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average price target of C$30.38.

Barrick Gold Trading Down 1.0 %

Shares of TSE:ABX opened at C$22.66 on Tuesday. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$29.50. The stock has a market capitalization of C$39.66 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 2.34 and a beta of 0.48. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. The stock’s 50-day simple moving average is C$23.43 and its two-hundred day simple moving average is C$25.20.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Thursday, November 7th. The basic materials company reported C$0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.45 by C($0.03). Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. During the same quarter in the prior year, the business earned $0.32 EPS. Analysts expect that Barrick Gold will post 2.2422764 EPS for the current year.

Insider Activity at Barrick Gold

In other Barrick Gold news, Senior Officer Poupak Bahamin bought 5,778 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average cost of C$25.03 per share, for a total transaction of C$144,645.87. Also, Director Dennis Mark Bristow purchased 85,296 shares of the company’s 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. 0.60% of the stock is owned by corporate 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.