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

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) has been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$30.18.

Several research firms recently weighed in on ABX. Eight Capital lifted their price target on shares of Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th. Canaccord Genuity Group lifted their price target on shares of Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Finally, TD Securities reiterated a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a report on Wednesday, May 1st.

Insider Activity

In other news, Director Andrew James Quinn sold 36,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of C$23.00, for a total transaction of C$828,000.00. In other news, 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. Also, Director Andrew James Quinn sold 36,000 shares of Barrick Gold stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of C$23.00, for a total value of C$828,000.00. Company insiders own 0.61% of the company’s stock.

Barrick Gold Stock Up 0.5 %

Shares of Barrick Gold stock opened at C$27.71 on Friday. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$28.47. The stock has a market capitalization of C$48.49 billion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 1.94 and a beta of 0.47. The company’s 50 day moving average price is C$24.71 and its 200-day moving average price is C$23.08.

Barrick Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from Barrick Gold’s previous quarterly dividend of $0.14. Barrick Gold’s payout ratio is 46.61%.

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.