Barrick Gold Co. (TSE:ABX) Given Consensus Recommendation of “Buy” by Brokerages

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) has been assigned an average recommendation of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is C$30.18.

Several research analysts have commented on ABX shares. Canaccord Genuity Group upped their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. Eight Capital raised their target price on Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th.

Insider Activity at Barrick Gold

In related news, Senior Officer Riaan Grobler sold 94,000 shares of the firm’s stock in a transaction that occurred on 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. In related news, Senior Officer Riaan Grobler sold 94,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. Also, Director Andrew James Quinn bought 5,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of C$26.00 per share, for a total transaction of C$129,999.00. 0.61% of the stock is owned by insiders.

Barrick Gold Stock Performance

Shares of ABX opened at C$27.30 on Thursday. The stock has a market capitalization of C$47.78 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 1.94 and a beta of 0.49. The business’s fifty day moving average price is C$26.13 and its 200 day moving average price is C$24.00. 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 12-month low of C$18.65 and a 12-month high of C$28.67.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of C$4.12 billion. Equities research analysts forecast that Barrick Gold will post 2.2676519 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.138 per share. 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 2.02%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is 46.15%.

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.