Barrick Gold Upgraded to Strong-Buy by UBS Group

Barrick Gold Corp (TSE:ABX – Get Free Report) (NYSE:ABX) recently received an upgrade from stock analysts at UBS Group, moving from a previous rating of "hold" to a more positive "strong-buy" rating. This upgrade was noted in a research note released to investors on Wednesday.

In addition to UBS, several other brokerage firms have shared their insights on Barrick Gold. For instance, TD Cowen reiterated a "buy" rating, setting a target price of C$36.00 for the company's shares in a report issued on January 14. Meanwhile, Stifel Nicolaus made adjustments to their projections, reducing their target price from C$33.50 to C$32.00 in a research note dated December 2. Another shift was seen when CIBC World Markets downgraded Barrick Gold from a "strong-buy" to a "hold" rating on November 25.

Furthermore, National Bankshares adjusted their target price downward from C$26.00 to C$24.00 and assigned a "sector perform" rating as of January 16. Additionally, Sanford C. Bernstein lowered their target from C$37.00 to C$36.00 in a report released on November 5. Currently, the stock ratings reflect a diversity of opinions, with three analysts rating it as a hold, six as a buy, and two as a strong buy. Overall, based on data from MarketBeat, Barrick Gold enjoys an average rating of "Moderate Buy" and an average target price estimate of C$30.73.

Barrick Gold Price Performance Overview

On the trading front, shares of TSE:ABX started at C$26.39 on Wednesday. The company's 50-day moving average stands at C$24.13, and the 200-day moving average is C$25.32. Over the past year, Barrick Gold's shares have seen a low of C$20.65 and a high of C$29.50. Financially, the company is in a strong position, indicated by a quick ratio of 2.62, a current ratio of 2.65, and a relatively low debt-to-equity ratio of 19.83. The firm holds a market capitalization of approximately C$32.07 billion and records a PE ratio of 19.87, with a price-to-earnings-growth ratio of 2.34 and a beta of 0.48.

Insider Transactions at Barrick Gold

In related insider activity, Director Dennis Mark Bristow purchased 230,872 shares of Barrick Gold's stock on February 25, acquiring them at an average price of C$25.71 per share, totaling a value of approximately C$5,936,042.34. Conversely, Senior Officer Poupak Bahamin sold 17,633 shares of the stock on February 26 for an average price of C$25.96, resulting in a total transaction of C$457,781.77. Currently, insiders own about 0.60% of the company's total stock.

About Barrick Gold Corp

Barrick Gold is recognized as one of the largest gold producers globally, operating a number of mines across various regions including North America, South America, Australia, and Africa. The company operates nine gold mines, including major sites such as Carlin, Cortez, and Turquoise Ridge, with the Carlin mine segment bringing in the majority of its revenue.

Barrick, Gold, Stocks