Barrick Gold Co. (TSE:ABX) Receives C$29.73 Consensus PT from Analysts

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is C$29.73.

Several research firms have recently commented on ABX. TD Securities reissued a “buy” rating and issued a C$34.00 price objective on shares of Barrick Gold in a research note on Wednesday, May 1st. Stifel Nicolaus raised their price objective on shares of Barrick Gold from C$25.00 to C$27.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Veritas Investment Research raised their price objective on shares of Barrick Gold from C$20.70 to C$25.00 in a research note on Friday, April 12th. Eight Capital raised their price objective on shares of Barrick Gold from C$32.00 to C$36.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th.

Barrick Gold Trading Up 1.9 %

Shares of ABX opened at C$24.25 on Friday. The company has a current ratio of 3.32, a quick ratio of 2.62 and a debt-to-equity ratio of 14.67. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$26.05. The firm has a 50-day moving average price of C$23.15 and a 200 day moving average price of C$22.34. The firm has a market capitalization of C$42.68 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.94 and a beta of 0.46.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Wednesday, May 1st. The basic materials company reported C$0.26 earnings per share for the quarter, topping the consensus estimate of C$0.22 by C$0.04. The company had revenue of C$3.70 billion during the quarter, compared to analyst estimates of C$3.98 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 6.83%. Sell-side analysts forecast that Barrick Gold will post 1.4494519 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 2.23%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, May 31st. Barrick Gold’s dividend payout ratio (DPR) is 48.67%.

Insider Activity at Barrick Gold

In related news, Director Andrew James Quinn sold 36,000 shares of Barrick Gold stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$23.00, for a total value of C$828,000.00. 0.61% of the stock is currently owned by insiders.

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.