Barrick Gold Co. (TSE:ABX) Receives C$31.14 Average Target Price from Brokerages

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$31.14.

A number of equities analysts have recently commented on the company. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Canaccord Genuity Group raised their price target on shares of Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Stifel Nicolaus boosted their price objective on shares of Barrick Gold from C$28.50 to C$33.50 in a research note on Monday, October 21st. Sanford C. Bernstein cut their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Finally, UBS Group cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

Insider Activity

In other news, Senior Officer Joel James Holliday sold 20,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$27.36, for a total transaction of C$547,298.10. Also, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. Insiders own 0.60% of the company’s stock.

Barrick Gold Stock Up 0.8 %

Shares of ABX opened at C$23.72 on Friday. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$29.50. The company’s fifty day moving average is C$27.05 and its two-hundred day moving average is C$25.08. The firm has a market cap of C$41.51 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.36 by C$0.08. The firm had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.12 billion. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. Analysts forecast that Barrick Gold will post 2.2422764 earnings per share for the current year.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $0.135 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.54 dividend on an annualized basis and a yield of 2.28%. Barrick Gold’s dividend payout ratio is currently 45.38%.

Barrick Gold Company Profile

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.