Barrick Gold Corp. (ABX) Lifted to “Outperform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Barrick Gold Corp. (TSE:ABX) (NYSE:ABX) from a sector perform rating to an outperform rating in a report published on Thursday morning, StockTargetPrices.com reports. Royal Bank of Canada currently has C$31.00 price objective on the stock.

A number of other research analysts have also issued reports on the stock. CSFB upped their price target on shares of Barrick Gold Corp. from C$23.00 to C$25.00 in a research note on Thursday, February 16th. Canaccord Genuity upped their price target on shares of Barrick Gold Corp. from C$28.00 to C$29.00 in a research note on Friday, February 3rd. Barclays PLC cut their price target on shares of Barrick Gold Corp. from C$21.00 to C$20.00 in a research note on Tuesday, January 10th. TD Securities upped their price target on shares of Barrick Gold Corp. from C$18.00 to C$20.00 and gave the company a hold rating in a research note on Friday, February 24th. Finally, BMO Capital Markets upped their price target on shares of Barrick Gold Corp. from C$20.00 to C$22.00 and gave the company an outperform rating in a research note on Thursday, February 16th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Barrick Gold Corp. presently has a consensus rating of Buy and an average target price of C$23.68.

Barrick Gold Corp. (TSE:ABX) opened at 25.46 on Thursday. The stock has a market cap of $29.68 billion and a PE ratio of 45.46. Barrick Gold Corp. has a 52 week low of $17.09 and a 52 week high of $30.45. The stock’s 50 day moving average is $24.98 and its 200 day moving average is $22.69.

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In related news, insider Mark Francis Hill purchased 9,453 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were acquired at an average price of C$24.58 per share, for a total transaction of C$232,354.74. Also, Director John Lawson Thornton purchased 26,750 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were bought at an average price of C$19.01 per share, for a total transaction of C$508,517.50.

About Barrick Gold Corp.

Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. The Company produces copper, principally from its Zaldivar joint venture and Lumwana mine, and holds other interests. Barricks’ segments include Cortez, Goldstrike, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Porgera, Kalgoorlie, Acacia Mining plc, Lumwana, Zaldivar and Pascua-Lama Project.

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