Barrick Gold Co. (TSE:ABX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$30.18.

Several research analysts have weighed in on the company. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Canaccord Genuity Group upped their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. Finally, Eight Capital lifted their price target on shares of Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th.

Barrick Gold Stock Performance

The company has a market capitalization of C$48.88 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 1.94 and a beta of 0.49. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. The firm has a fifty day moving average price of C$26.18 and a 200-day moving average price of C$24.02. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$28.67.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings data on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.36 by C$0.08. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. The firm had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.12 billion. Equities analysts predict that Barrick Gold will post 2.2676519 earnings per share for the current year.

Barrick Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of ∞. This is an increase from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio is presently 46.15%.

Insiders Place Their Bets

In other Barrick Gold news, Director Andrew James Quinn bought 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average price of C$26.00 per share, with a total value of C$129,999.00. In other news, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. Also, Director Andrew James Quinn purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of C$26.00 per share, with a total value of C$129,999.00. 0.61% of the stock is owned by insiders.

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.