Barrick Gold (TSE:ABX) Price Target Increased to C$33.00 by Analysts at Canaccord Genuity Group

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective lifted by Canaccord Genuity Group from C$31.00 to C$33.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports.

Several other research firms also recently weighed in on ABX. Eight Capital lifted their target price on Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. National Bank Financial reiterated a sector perform overweight rating on shares of Barrick Gold in a research note on Monday, April 8th. Sanford C. Bernstein raised their target price on shares of 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. Berenberg Bank upped their price target on shares of Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. Finally, TD Securities restated a buy rating and set a C$34.00 price objective on shares of Barrick Gold in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of C$30.18.

Barrick Gold Price Performance

TSE ABX opened at C$24.61 on Tuesday. The company has a quick ratio of 2.62, a current ratio of 3.32 and a debt-to-equity ratio of 14.67. The firm has a market capitalization of C$43.31 billion, a P/E ratio of 21.78, a PEG ratio of 1.94 and a beta of 0.46. The company has a 50-day moving average price of C$23.65 and a 200-day moving average price of C$22.48. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$26.58.

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

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from Barrick Gold’s previous quarterly dividend of $0.10. Barrick Gold’s dividend payout ratio is 48.67%.

Insider Transactions at Barrick Gold

In other news, Director Andrew James Quinn sold 36,000 shares of the company’s stock in a transaction that occurred 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. Insiders own 0.61% of the company’s stock.

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.