Brokerages Set Barrick Gold Co. (TSE:ABX) Price Target at C$30.38

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$30.38.

Several equities research analysts have issued reports on ABX shares. UBS Group downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group cut their price objective on shares of Barrick Gold from C$33.50 to C$30.00 in a research report on Wednesday, January 15th. National Bankshares cut their price objective on shares of Barrick Gold from C$26.00 to C$24.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. TD Securities restated a “buy” rating and set a C$34.00 price objective on shares of Barrick Gold in a research report on Wednesday, October 16th. Finally, 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.

Barrick Gold Trading Down 0.5 %

Barrick Gold stock opened at C$22.98 on Wednesday. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$29.50. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. The stock has a market capitalization of C$40.22 billion, a P/E ratio of 19.31, a PEG ratio of 2.34 and a beta of 0.48. The stock has a 50-day simple moving average of C$23.38 and a 200 day simple moving average of C$25.21.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported C$0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.45 by C($0.03). Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. During the same quarter last year, the company earned $0.32 EPS. Analysts expect 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 was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.135 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.54 dividend on an annualized basis and a yield of 2.35%. Barrick Gold’s dividend payout ratio (DPR) is 45.38%.

Insider Activity at Barrick Gold

In other news, Director Dennis Mark Bristow acquired 85,296 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average cost of C$25.03 per share, with a total value of C$2,135,291.53. Also, Senior Officer Poupak Bahamin sold 2,500 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of C$24.49, for a total transaction of C$61,215.00. 0.60% of the stock is currently 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.