Barrick Gold (ABX) Lowered to Hold at Canaccord Genuity

Canaccord Genuity downgraded shares of Barrick Gold (TSE:ABX) (NYSE:ABX) from a buy rating to a hold rating in a research report sent to investors on Monday morning. Canaccord Genuity currently has C$19.00 price target on the stock, down from their prior price target of C$22.50.

Several other brokerages also recently weighed in on ABX. BMO Capital Markets set a C$15.00 target price on Barrick Gold and gave the company a market perform rating in a research note on Thursday, February 8th. Desjardins lowered their target price on Barrick Gold from C$19.50 to C$19.00 in a research note on Wednesday, February 21st. Nine analysts have rated the stock with a hold rating, Barrick Gold presently has a consensus rating of Hold and an average price target of C$21.00.

How to Become a New Pot Stock Millionaire

Shares of ABX stock opened at C$16.58 on Monday. Barrick Gold has a twelve month low of C$14.26 and a twelve month high of C$26.01.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Wednesday, February 14th. The company reported C$0.28 earnings per share for the quarter, beating the consensus estimate of C$0.26 by C$0.02. Barrick Gold had a negative return on equity of 27.89% and a negative net margin of 36.36%. The company had revenue of C$2.83 billion for the quarter, compared to the consensus estimate of C$2.76 billion.

In other Barrick Gold news, insider Robert Ljubomir Krcmarov purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The shares were purchased at an average cost of C$15.71 per share, for a total transaction of C$31,420.00. Also, Director John Lawson Thornton purchased 306,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The stock was acquired at an average price of C$11.72 per share, for a total transaction of C$3,586,320.00. Over the last 90 days, insiders purchased 338,845 shares of company stock worth $5,082,692.

COPYRIGHT VIOLATION NOTICE: This story was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/04/24/barrick-gold-abx-lowered-to-hold-at-canaccord-genuity.html.

Barrick Gold Company Profile

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia.

Analyst Recommendations for Barrick Gold (TSE:ABX)

Receive News & Ratings for Barrick Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Barrick Gold and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply