Barrick Gold’s (ABX) Buy Rating Reaffirmed at TD Securities

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

Several other research analysts have also recently weighed in on ABX. Veritas Investment Research increased their price target on Barrick Gold from C$20.70 to C$25.00 in a research report on Friday, April 12th. Eight Capital increased their price target on Barrick Gold from C$32.00 to C$36.00 and gave the company a buy rating in a research report on Monday, April 22nd. Sanford C. Bernstein increased their price target on Barrick Gold from C$31.00 to C$32.00 and gave the company an outperform rating in a research report on Thursday, April 18th. CIBC reissued an outperform rating and issued a C$31.00 price objective on shares of Barrick Gold in a research note on Thursday, February 15th. Finally, Berenberg Bank increased their price objective on Barrick Gold from C$29.00 to C$31.00 in a research note 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. According to data from MarketBeat.com, Barrick Gold has a consensus rating of Moderate Buy and an average target price of C$29.73.

Barrick Gold Price Performance

ABX opened at C$22.52 on Wednesday. The company’s 50-day moving average price is C$22.24 and its 200 day moving average price is C$22.17. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$27.00. The firm has a market cap of C$39.64 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. The company has a quick ratio of 2.62, a current ratio of 3.32 and a debt-to-equity ratio of 14.67.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 EPS for the quarter, beating the consensus estimate of C$0.28 by C$0.09. Barrick Gold had a net margin of 12.58% and a return on equity of 6.83%. The company had revenue of C$4.16 billion for the quarter, compared to analyst estimates of C$4.28 billion. As a group, sell-side analysts expect that Barrick Gold will post 1.4482315 earnings per share for the current year.

Barrick Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a $0.135 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.54 dividend on an annualized basis and a yield of 2.40%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.10. Barrick Gold’s dividend payout ratio (DPR) is 48.67%.

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.