Barrick Gold Co. (TSE:ABX) Receives C$28.60 Average PT from Analysts

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) has been assigned an average rating of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$29.27.

Several research firms have commented on ABX. National Bankshares cut their price objective on Barrick Gold from C$30.00 to C$28.00 and set a “sector perform” rating for the company in a research note on Friday, April 19th. Sanford C. Bernstein boosted their price objective on Barrick Gold from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Veritas Investment Research boosted their price objective on Barrick Gold from C$20.70 to C$25.00 in a research note on Friday, April 12th. TD Securities reiterated a “buy” rating and set a C$29.00 price objective on shares of Barrick Gold in a research note on Tuesday, April 16th. Finally, Canaccord Genuity Group boosted their price objective on Barrick Gold from C$27.00 to C$30.00 in a research note on Tuesday.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at C$22.63 on Monday. 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 has a twelve month low of C$18.65 and a twelve month high of C$28.19. The business has a 50-day moving average price of C$21.79 and a 200 day moving average price of C$22.07. The firm has a market cap of C$39.83 billion, a PE ratio of 22.86, a P/E/G ratio of 1.94 and a beta of 0.46.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share for the quarter, beating the consensus estimate of C$0.28 by C$0.09. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%. The firm had revenue of C$4.16 billion during the quarter, compared to analyst estimates of C$4.28 billion. Sell-side analysts predict that Barrick Gold will post 1.196793 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio is presently 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.