Barrick Gold Co. (TSE:ABX) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have received an average recommendation of “Buy” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. One 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 twelve-month target price among analysts that have covered the stock in the last year is C$30.18.

ABX has been the topic of several recent research reports. Eight Capital raised their target price on shares of Barrick Gold from C$36.00 to C$38.00 in a research note on Thursday, July 11th. Canaccord Genuity Group raised their target price 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 note on Thursday, August 29th. Finally, TD Securities reaffirmed a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a research note on Wednesday.

Insider Activity

In other news, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total value of C$3,409,485.40. In related news, Director Christopher Lewis Coleman sold 121,334 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. Also, Senior Officer Riaan Grobler sold 94,000 shares of the business’s stock in a transaction on 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. Insiders have sold 235,334 shares of company stock worth $5,741,477 over the last ninety days. Insiders own 0.60% of the company’s stock.

Barrick Gold Trading Up 2.9 %

Shares of Barrick Gold stock opened at C$28.88 on Monday. The stock has a market capitalization of C$50.54 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. The company has a 50-day simple moving average of C$26.89 and a 200 day simple moving average of C$24.70. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$29.18.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings data on Monday, August 12th. The basic materials company reported C$0.44 EPS for the quarter, topping analysts’ consensus estimates of C$0.36 by C$0.08. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. The firm had revenue of C$4.33 billion for the quarter, compared to analyst estimates of C$4.12 billion. Research analysts expect that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.138 per share. This is an increase from Barrick Gold’s previous quarterly dividend of $0.14. This represents a $0.55 annualized dividend and a yield of 1.91%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is 45.38%.

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.