Barrick Gold (TSE:ABX) Given Buy Rating at TD Securities

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

ABX has been the subject of several other research reports. Argus raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Eight Capital boosted their price objective on Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Finally, Canaccord Genuity Group boosted their price objective on Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$30.18.

Barrick Gold Price Performance

Shares of TSE:ABX opened at C$28.88 on Wednesday. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$29.18. The business has a 50-day moving average of C$26.89 and a two-hundred day moving average of C$24.70. The stock has a market capitalization of C$50.54 billion, a P/E ratio of 24.27, a P/E/G 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 (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, topping 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 company had revenue of C$4.33 billion during the quarter, compared to analysts’ expectations of C$4.12 billion. On average, equities research analysts predict that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 1.91%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is currently 45.38%.

Insider Activity at Barrick Gold

In related news, Senior Officer Riaan Grobler sold 94,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. In related news, Director Andrew James Quinn acquired 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of C$26.00 per share, for a total transaction of C$129,999.00. Also, Senior Officer Riaan Grobler sold 94,000 shares of the company’s stock in a transaction that occurred 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. Insiders have sold 235,334 shares of company stock worth $5,741,477 over the last three months. 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.