Barrick Gold (TSE:ABX) Rating Increased to Strong-Buy at UBS Group

UBS Group upgraded shares of Barrick Gold (TSE:ABX) (NYSE:ABX) from a hold rating to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

Several other equities analysts also recently issued reports on ABX. National Bankshares reduced their price target on shares of 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. Sanford C. Bernstein reduced their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. TD Cowen reaffirmed a “buy” rating and issued a C$36.00 price objective on shares of Barrick Gold in a report on Tuesday, January 14th. Stifel Nicolaus reduced their price objective on shares of Barrick Gold from C$33.50 to C$32.00 in a report on Monday, December 2nd. Finally, Scotiabank downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.73.

Barrick Gold Stock Up 3.1 %

ABX stock opened at C$26.48 on Wednesday. The company has a debt-to-equity ratio of 19.83, a current ratio of 2.65 and a quick ratio of 2.62. Barrick Gold has a 1-year low of C$20.65 and a 1-year high of C$29.50. The firm has a fifty day moving average price of C$24.05 and a two-hundred day moving average price of C$25.30. The firm has a market cap of C$32.18 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 2.34 and a beta of 0.48.

Insider Activity

In other news, Senior Officer Poupak Bahamin sold 17,633 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of C$25.96, for a total transaction of C$457,781.77. Also, Director Dennis Mark Bristow acquired 230,872 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were bought at an average price of C$25.71 per share, for a total transaction of C$5,936,042.34. 0.60% of the stock is currently owned by company insiders.

Barrick Gold Company Profile

Barrick Gold Corp is one of the world’s largest gold producers, operating mines in North America, South America, Australia, and Africa. The company segments consist of nine gold mines namely Carlin, Cortez, Turquoise Ridge, Pueblo Viejo, Loulo-Gounkoto, Kibali, Veladero, North Mara, and Bulyanhulu. It generates maximum revenue from the Carlin mine segment.