Analysts Set Barrick Gold Co. (TSE:ABX) PT at C$30.18

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have earned a consensus recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$30.18.

Several research firms recently commented on ABX. Canaccord Genuity Group raised their price target on shares of Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. TD Securities reissued a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a research report on Wednesday, October 16th. Finally, Eight Capital raised their target price on shares of Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th.

Barrick Gold Trading Up 2.9 %

ABX stock opened at C$28.88 on Monday. The company has a market capitalization of C$50.54 billion, a PE ratio of 24.27, a P/E/G ratio of 2.34 and a beta of 0.48. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.18. The firm’s 50-day moving average is C$26.89 and its 200 day moving average is C$24.72. 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 posted its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 EPS for the quarter, topping the consensus estimate of C$0.36 by C$0.08. The company had revenue of C$4.33 billion for the quarter, compared to the consensus estimate of C$4.12 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. On average, research analysts anticipate 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 $0.138 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.14. Barrick Gold’s payout ratio is presently 45.38%.

Insider Transactions at Barrick Gold

In other news, Director Andrew James Quinn acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average price of C$26.00 per share, with a total value of C$129,999.00. In related news, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold 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. Also, Director Andrew James Quinn bought 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average price of C$26.00 per share, with a total value of C$129,999.00. Insiders have sold a total of 235,334 shares of company stock valued at $5,741,477 in the last 90 days. 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.