Barrick Gold Co. (TSE:ABX) Receives C$30.18 Consensus Target Price from Analysts

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

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

Barrick Gold Stock Performance

TSE ABX opened at C$27.62 on Thursday. Barrick Gold has a 1 year low of C$18.65 and a 1 year high of C$28.67. The firm has a market capitalization of C$48.34 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 1.94 and a beta of 0.49. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. The firm’s 50 day simple moving average is C$26.07 and its 200 day simple moving average is C$23.95.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.36 by C$0.08. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. The company had revenue of C$4.33 billion for the quarter, compared to analyst estimates of C$4.12 billion. As a group, research analysts expect that Barrick Gold will post 2.2676519 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 2.00%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio is presently 46.15%.

Insiders Place Their Bets

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