Barrick Gold (TSE:ABX) Given New C$38.00 Price Target at Eight Capital

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price upped by Eight Capital from C$36.00 to C$38.00 in a research note published on Thursday, BayStreet.CA reports.

A number of other brokerages also recently commented on ABX. Veritas Investment Research raised their price objective on shares of Barrick Gold from C$20.70 to C$25.00 in a research report on Friday, April 12th. Canaccord Genuity Group raised their price target on Barrick Gold from C$27.00 to C$30.00 in a report on Tuesday, April 23rd. Berenberg Bank upped their price objective on Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. Sanford C. Bernstein increased their price objective on Barrick Gold from C$31.00 to C$32.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Finally, National Bankshares decreased their target price on shares of Barrick Gold from C$30.00 to C$28.00 and set a sector perform rating on the stock in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of C$29.91.

Barrick Gold Trading Up 2.1 %

TSE:ABX opened at C$25.25 on Thursday. Barrick Gold has a 12-month low of C$18.65 and a 12-month high of C$26.05. The company has a current ratio of 3.32, a quick ratio of 2.62 and a debt-to-equity ratio of 14.67. The stock’s 50 day simple moving average is C$23.25 and its 200-day simple moving average is C$22.34. The firm has a market cap of C$44.44 billion, a P/E ratio of 22.35, a PEG ratio of 1.94 and a beta of 0.46.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported C$0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.22 by C$0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 6.83%. The company had revenue of C$3.70 billion for the quarter, compared to analysts’ expectations of C$3.98 billion. Equities analysts anticipate that Barrick Gold will post 1.4494519 EPS for the current year.

Barrick Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 2.14%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, May 31st. Barrick Gold’s dividend payout ratio is presently 48.67%.

Insiders Place Their Bets

In other Barrick Gold news, Director Andrew James Quinn sold 36,000 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of C$23.00, for a total transaction of C$828,000.00. 0.61% of the stock is currently owned by company insiders.

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.