Barrick Gold (TSE:ABX) Given Buy Rating at TD Securities

TD Securities reaffirmed their buy rating on shares of Barrick Gold (TSE:ABX) (NYSE:ABX) in a report released on Wednesday morning, Stock Target Advisor reports. TD Securities currently has a C$34.00 price target on the basic materials company’s stock.

A number of other equities research analysts have also weighed in on the company. Eight Capital raised their price objective on Barrick Gold from C$36.00 to C$38.00 in a research note on Thursday, July 11th. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Canaccord Genuity Group raised their price objective on Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Barrick Gold currently has an average rating of “Buy” and a consensus target price of C$30.18.

Barrick Gold Stock Performance

Barrick Gold stock opened at C$28.88 on Wednesday. The stock’s 50-day moving average is C$26.89 and its 200-day moving average is C$24.70. The company has a market cap of C$50.54 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. Barrick Gold has a 12 month low of C$18.65 and a 12 month 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 the consensus estimate of C$0.36 by C$0.08. The business had revenue of C$4.33 billion for the quarter, compared to the consensus estimate of C$4.12 billion. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. Equities analysts anticipate that Barrick Gold will post 2.2422764 earnings per share for the current year.

Barrick Gold Increases Dividend

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

Insider Buying and Selling at Barrick Gold

In other Barrick Gold news, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. In other news, Director Andrew James Quinn acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of C$26.00 per share, with a total value of C$129,999.00. Also, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total value of C$1,784,693.40. Insiders have sold 235,334 shares of company stock valued at $5,741,477 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

Barrick Gold Company Profile

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.