Barrick Gold (TSE:ABX) Cut to “Hold” at Cibc World Mkts

Cibc World Mkts cut shares of Barrick Gold (TSE:ABX) (NYSE:ABX) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

ABX has been the subject of several other research reports. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. UBS Group lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. TD Securities reissued a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. Sanford C. Bernstein cut their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus boosted their price target on shares of Barrick Gold from C$28.50 to C$33.50 in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$31.14.

Barrick Gold Trading Down 0.2 %

TSE:ABX opened at C$24.65 on Monday. Barrick Gold has a one year low of C$18.65 and a one year high of C$29.50. The business has a fifty day moving average price of C$26.64 and a 200-day moving average price of C$25.18. The firm has a market capitalization of C$43.14 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. 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 Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.135 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.54 dividend on an annualized basis and a yield of 2.19%. Barrick Gold’s payout ratio is 45.38%.

Insider Transactions at Barrick Gold

In other news, Senior Officer Poupak Bahamin bought 5,778 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average cost of C$25.03 per share, with a total value of C$144,645.87. Also, Director Dennis Mark Bristow purchased 85,296 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average cost of C$25.03 per share, for a total transaction of C$2,135,291.53. Company insiders own 0.60% of the company’s stock.

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.