Barrick Gold (TSE:ABX) Price Target Lowered to C$36.00 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 report published on Tuesday,BayStreet.CA reports.

A number of other brokerages also recently weighed in on ABX. UBS Group downgraded Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lifted their price target on Barrick Gold from C$28.50 to C$33.50 in a research report on Monday, October 21st. Eight Capital lifted their price target on Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Argus raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, TD Securities reaffirmed a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and a consensus target price of C$31.14.

Barrick Gold Stock Down 0.3 %

Shares of ABX stock opened at C$25.63 on Tuesday. The stock’s 50 day simple moving average is C$27.37 and its 200 day simple moving average is C$25.07. 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 twelve month low of C$18.65 and a twelve month high of C$29.50. The company has a market capitalization of C$44.85 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.34 and a beta of 0.48.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of C$4.33 billion for the quarter, compared to the consensus estimate of C$4.12 billion. As a group, research analysts predict that Barrick Gold will post 2.2422764 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.138 per share. The ex-dividend date was Friday, August 30th. This is a boost from Barrick Gold’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a dividend yield of 2.15%. Barrick Gold’s payout ratio is currently 45.38%.

Insider Activity

In other news, Director Christopher Lewis Coleman sold 121,334 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. In related news, Director Christopher Lewis Coleman sold 121,334 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total value of C$3,409,485.40. Also, 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. Over the last ninety days, insiders have sold 235,334 shares of company stock worth $5,741,477. Company 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.