Barrick Gold (TSE:ABX) Price Target Cut to C$36.00 by Analysts at Sanford C. Bernstein

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective reduced by Sanford C. Bernstein from C$37.00 to C$36.00 in a research note published on Tuesday, BayStreet.CA reports.

ABX has been the subject of several other reports. Eight Capital raised their price target on shares of Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th. Stifel Nicolaus lifted their price objective on shares of Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. UBS Group downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Finally, TD Securities reaffirmed a “buy” rating and set a C$34.00 price objective on shares of Barrick Gold in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and an average price target of C$31.14.

Barrick Gold Stock Down 0.6 %

Shares of TSE:ABX opened at C$26.11 on Tuesday. The firm has a fifty day moving average price of C$27.41 and a two-hundred day moving average price of C$25.06. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. Barrick Gold has a one year low of C$18.65 and a one year high of C$29.50. The company has a market cap of C$45.69 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 2.34 and a beta of 0.48.

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

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.138 dividend. The ex-dividend date was Friday, August 30th. This is an increase from Barrick Gold’s previous quarterly dividend of $0.14. This represents a $0.55 annualized dividend and a yield of 2.11%. Barrick Gold’s payout ratio is currently 45.38%.

Insiders Place Their Bets

In other Barrick Gold news, Senior Officer Riaan Grobler sold 94,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total value of C$1,784,693.40. In other news, Director Andrew James Quinn acquired 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of C$26.00 per share, with a total value of C$129,999.00. Also, Senior Officer Riaan Grobler sold 94,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. Insiders sold 235,334 shares of company stock valued at $5,741,477 over the last three months. Insiders own 0.60% of the company’s stock.

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.