Canaccord Genuity Group Boosts Barrick Gold (TSE:ABX) Price Target to C$30.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective hoisted by Canaccord Genuity Group from C$27.00 to C$30.00 in a research note released on Tuesday, BayStreet.CA reports.

Several other equities analysts have also issued reports on ABX. Eight Capital lifted their price target on Barrick Gold from C$32.00 to C$36.00 and gave the company a buy rating in a research note on Monday. CIBC reiterated an outperform rating and issued a C$31.00 price target on shares of Barrick Gold in a research note on Thursday, February 15th. Veritas Investment Research boosted their price objective on Barrick Gold from C$20.70 to C$25.00 in a research report on Friday, April 12th. National Bankshares reduced their price objective on 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. Finally, Berenberg Bank boosted their price objective on Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of C$29.27.

Barrick Gold Price Performance

Shares of TSE ABX opened at C$23.33 on Tuesday. The stock has a market capitalization of C$41.06 billion, a PE ratio of 23.57, a P/E/G ratio of 1.94 and a beta of 0.46. The company has a debt-to-equity ratio of 16.32, a current ratio of 3.16 and a quick ratio of 2.62. The business has a fifty day moving average price of C$21.86 and a two-hundred day moving average price of C$22.08. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$28.19.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data 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. The firm had revenue of C$4.16 billion during the quarter, compared to analysts’ expectations of C$4.28 billion. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%. As a group, equities 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 given a $0.10 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.71%. Barrick Gold’s dividend payout ratio (DPR) 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.