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.
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.
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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.
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