Barrick Gold (TSE:ABX) Price Target Raised to C$36.00 at Eight Capital

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price lifted by Eight Capital from C$32.00 to C$36.00 in a research report sent to investors on Monday, BayStreet.CA reports. Eight Capital currently has a buy rating on the basic materials company’s stock.

Several other brokerages have also recently issued reports on ABX. Berenberg Bank boosted their price objective on shares of Barrick Gold from C$29.00 to C$31.00 in a research note on Monday, April 8th. TD Securities reaffirmed a buy rating and issued a C$29.00 price objective on shares of Barrick Gold in a research note on Tuesday, April 16th. Raymond James dropped their target price on shares of Barrick Gold from C$28.00 to C$24.00 in a research report on Friday, February 16th. CIBC reiterated an outperform rating and set a C$31.00 price objective on shares of Barrick Gold in a research note on Thursday, February 15th. Finally, National Bank Financial reissued a sector perform overweight rating on shares of Barrick Gold in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of C$29.27.

Barrick Gold Price Performance

ABX stock opened at C$22.51 on Monday. The stock has a market capitalization of C$39.62 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. The stock’s fifty day simple moving average is C$21.64 and its 200-day simple moving average is C$22.05. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$28.19. The company has a quick ratio of 2.62, a current ratio of 3.16 and a debt-to-equity ratio of 16.32.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 EPS for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.09. Barrick Gold had a net margin of 11.16% and a return on equity of 6.17%. The company had revenue of C$4.16 billion during the quarter, compared to the consensus estimate of C$4.28 billion. Equities research analysts expect that Barrick Gold will post 1.196793 EPS for the current year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s payout ratio is 54.55%.

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.