Barrick Gold (TSE:ABX) Downgraded by Cibc World Mkts to “Hold”

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

ABX has been the subject of a number of other reports. Stifel Nicolaus upped their price target on shares of Barrick Gold from C$28.50 to C$33.50 in a research report on Monday, October 21st. Sanford C. Bernstein dropped their price target on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. TD Securities reiterated a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. UBS Group lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$31.14.

Barrick Gold Stock Down 3.0 %

ABX opened at C$24.73 on Monday. The firm has a 50 day moving average price of C$26.73 and a 200-day moving average price of C$25.17. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. The stock has a market capitalization of C$43.28 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.34 and a beta of 0.48. Barrick Gold has a twelve month low of C$18.65 and a twelve month high of C$29.50.

Insider Activity at Barrick Gold

In other Barrick Gold news, Senior Officer Poupak Bahamin bought 5,778 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of C$25.03 per share, for a total transaction of C$144,645.87. Also, Director Dennis Mark Bristow bought 85,296 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were acquired at an average price of C$25.03 per share, for a total transaction of C$2,135,291.53. 0.60% of the stock is owned by insiders.

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.