Barrick Gold (TSE:ABX) Sets New 12-Month High – Here’s Why

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) reached a new 52-week high during trading on Friday . The stock traded as high as C$28.78 and last traded at C$28.67, with a volume of 636919 shares changing hands. The stock had previously closed at C$28.07.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABX shares. TD Securities reaffirmed a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a report on Wednesday. Canaccord Genuity Group upped their target price on Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Eight Capital boosted their price target on Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th. One 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.com, the stock has an average rating of “Buy” and a consensus price target of C$30.18.

Barrick Gold Price Performance

The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. The firm has a market cap of C$50.54 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The business has a 50-day moving average of C$26.89 and a two-hundred day moving average of C$24.70.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share for the quarter, topping the consensus estimate of C$0.36 by C$0.08. The company had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.12 billion. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. On average, sell-side analysts anticipate that Barrick Gold Co. will post 2.2422764 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

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

Insider Transactions at Barrick Gold

In other Barrick Gold news, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold stock in a transaction dated 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 Barrick Gold news, Senior Officer Riaan Grobler sold 94,000 shares of the firm’s 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 Christopher Lewis Coleman sold 121,334 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. Over the last 90 days, insiders have sold 235,334 shares of company stock worth $5,741,477. Company insiders own 0.60% 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.