Barrick Gold (TSE:ABX) Cut to “Hold” at Scotiabank

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

Other research analysts have also recently issued research reports about the stock. Sanford C. Bernstein decreased their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. National Bankshares decreased their price objective on Barrick Gold from C$26.00 to C$24.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Cibc World Mkts cut Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. TD Securities reiterated a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus lowered their price target on Barrick Gold from C$33.50 to C$32.00 in a report on Monday, December 2nd. Four investment 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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 12-month low of C$18.65 and a 12-month high of C$29.50. The company has a market cap of C$39.66 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. 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 stock’s 50 day simple moving average is C$23.43 and its 200 day simple moving average is C$25.20.

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

Insider Buying and Selling at Barrick Gold

In other news, Director Dennis Mark Bristow acquired 85,296 shares of Barrick Gold stock in a transaction on Thursday, November 21st. The stock was bought at an average cost 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 Barrick Gold 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 transaction of C$61,215.00. 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.