Barrick Gold’s (ABX) Buy Rating Reaffirmed at TD Securities

TD Securities reissued their buy rating on shares of Barrick Gold (TSE:ABX) (NYSE:ABX) in a research note issued to investors on Wednesday morning, Stock Target Advisor reports. TD Securities currently has a C$34.00 target price on the basic materials company’s stock.

ABX has been the topic of several other research reports. Canaccord Genuity Group boosted their price target on Barrick Gold from C$27.00 to C$30.00 in a research note on Tuesday, April 23rd. Raymond James cut their price objective on Barrick Gold from C$28.00 to C$24.00 in a research report on Friday, February 16th. CIBC restated an outperform rating and set a C$31.00 target price on shares of Barrick Gold in a research report on Thursday, February 15th. National Bank Financial restated a sector perform overweight rating on shares of Barrick Gold in a research report on Monday, April 8th. Finally, Stifel Nicolaus boosted their target price on Barrick Gold from C$25.00 to C$27.00 and gave the stock a buy rating in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of C$29.73.

Barrick Gold Stock Performance

ABX opened at C$22.52 on Wednesday. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$28.19. The firm has a market capitalization of C$39.64 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. The stock’s 50 day moving average price is C$22.12 and its two-hundred day moving average price is C$22.16. The company has a quick ratio of 2.62, a current ratio of 3.16 and a debt-to-equity ratio of 16.32.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share for the quarter, topping the consensus estimate of C$0.28 by C$0.09. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%. The company had revenue of C$4.16 billion for the quarter, compared to analyst estimates of C$4.28 billion. On average, equities analysts forecast that Barrick Gold will post 1.196793 earnings per share for the current year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.78%. Barrick Gold’s payout ratio is 54.55%.

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.