Barrick Gold Insider Transactions and Price Target Raise

Canaccord Genuity analysts lifted their price target on Barrick Gold from C$30.00 to C$31.00 in a report they released on Wednesday. Currently Canaccord has a “buy” rating on the stock. This lift pf price target suggests  a potential upside of 21.33% from the company’s previous close.

Related: Previously owned by Barrick Gold May Go Back Into Production

Other industry research analysts have also followed suit and recently raised thier ratings as well. For example, Royal Bank of Canada raised Barrick Gold from “sector perform” to an “outperform” rating and also set a C$31.00 price target on the stock in a report on Thursday, March 16th. Scotiabank upped their price objective on Barrick Gold from C$19.00 to C$22.00 and gave the company a “sector perform” rating in a research report on Friday, February 24th. TD Securities upped their price objective on Barrick Gold from C$18.00 to C$20.00 and gave the company a “hold” rating in a research report on Friday, February 24th. CSFB upped their price objective on Barrick Gold Corp from C$23.00 to C$25.00 in a research report on Thursday, February 16th. Finally, BMO Capital Markets upped their price objective on Barrick Gold Corp from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of C$23.78.

Analyst Recommendations for Barrick Gold Corp (TSE:ABX)

Shares of Barrick Gold traded up 0.12% on Wednesday, reaching $25.58 with trading volume of 1,390,516 shares. Barrick Gold Corp has a 12-month low of $17.09 and a 12-month high of $30.44. The company has a market cap of $29.82 billion and a price-to-earnings ratio of 45.68. The company’s 50-day moving average is $25.24 and its 200 day moving average is $22.79.

Insider Transactions: When insiders buy their own stock, it’s generally a good sign, and Barrick has had plenty of recent insider transactions. Director John Lawson Thornton purchased 26,750 shares of Barrick Gold Corp stock in a transaction on Thursday, March 16th. The stock was acquired at an average price of C$19.01 per share, for a total transaction of C$508,517.50. Also, insider Mark Francis Hill purchased 9,453 shares of Barrick Gold Corp stock in a transaction on Wednesday, March 1st. The stock was bought at an average price of C$24.58 per share, with a total value of C$232,354.74.

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