Canaccord Genuity Group Lowers Barrick Gold (TSE:ABX) Price Target to C$30.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price cut by Canaccord Genuity Group from C$33.50 to C$30.00 in a report released on Wednesday morning,BayStreet.CA reports.

ABX has been the topic of several other reports. TD Cowen reiterated a “buy” rating and set a C$36.00 target price on shares of Barrick Gold in a report on Tuesday. Stifel Nicolaus cut their price objective on Barrick Gold from C$33.50 to C$32.00 in a report on Monday, December 2nd. Royal Bank of Canada boosted their price objective on Barrick Gold to C$21.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Cibc World Mkts downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Sanford C. Bernstein reduced their price target on shares of Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average target price of C$30.38.

Barrick Gold Trading Up 2.2 %

ABX opened at C$23.14 on Wednesday. Barrick Gold has a twelve month low of C$18.65 and a twelve month high of C$29.50. The firm has a market cap of C$40.50 billion, a PE ratio of 19.45, 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 quick ratio of 2.62 and a current ratio of 3.01. The firm’s fifty day moving average is C$23.53 and its two-hundred day moving average is C$25.19.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is currently 45.38%.

Insider Buying and Selling at Barrick Gold

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