Barrick Gold (TSE:ABX) Downgraded by Scotiabank to “Hold”

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

ABX has been the topic of a number of other reports. Royal Bank of Canada upped their target price on shares of Barrick Gold to C$21.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Canaccord Genuity Group reduced their price objective on Barrick Gold from C$33.50 to C$30.00 in a report on Wednesday, January 15th. TD Cowen reiterated a “buy” rating and issued a C$36.00 target price on shares of Barrick Gold in a report on Tuesday, January 14th. TD Securities restated a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a research note on Wednesday, October 16th. Finally, Cibc World Mkts downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and an average price target of C$30.38.

Barrick Gold Stock Down 1.0 %

Shares of TSE ABX opened at C$22.66 on Tuesday. Barrick Gold has a 1 year low of C$18.65 and a 1 year high of C$29.50. The firm has a 50-day simple moving average of C$23.43 and a two-hundred day simple moving average of C$25.20. The company has a market cap of C$39.66 billion, a P/E 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 current ratio of 3.01 and a quick ratio of 2.62.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported C$0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $0.32 EPS. Research analysts anticipate that Barrick Gold will post 2.2422764 earnings per share for the current year.

Insider Transactions at Barrick Gold

In other news, Senior Officer Poupak Bahamin sold 2,500 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of C$24.49, for a total value of C$61,215.00. Also, Director Dennis Mark Bristow bought 85,296 shares of the stock in a transaction dated Thursday, November 21st. The stock was bought at an average price of C$25.03 per share, for a total transaction of C$2,135,291.53. Insiders own 0.60% of the company’s stock.

About Barrick Gold

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.