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

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have been assigned a consensus rating of “Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One investment 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 price target among brokerages that have issued a report on the stock in the last year is C$30.18.

ABX has been the subject of a number of research reports. Canaccord Genuity Group upped their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. TD Securities reaffirmed a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Eight Capital increased their price objective on shares of Barrick Gold from C$36.00 to C$38.00 in a research note on Thursday, July 11th.

Barrick Gold Stock Performance

Shares of ABX stock opened at C$28.88 on Monday. The company has a 50 day moving average price of C$26.89 and a 200-day moving average price of C$24.72. 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 firm 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 52 week low of C$18.65 and a 52 week high of C$29.18.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Monday, August 12th. The basic materials company reported C$0.44 EPS for the quarter, beating 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 business had revenue of C$4.33 billion during the quarter, compared to analysts’ expectations of C$4.12 billion. As a group, equities research analysts expect that Barrick Gold will post 2.2422764 earnings per share for the current year.

Barrick Gold Increases Dividend

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

Insider Buying and Selling

In other Barrick Gold news, Senior Officer Riaan Grobler sold 94,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. In other Barrick Gold news, Director Christopher Lewis Coleman sold 121,334 shares of the 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 stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. Over the last quarter, insiders sold 235,334 shares of company stock worth $5,741,477. 0.60% of the stock is owned by 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.