Barrick Gold Co. (TSE:ABX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have received an average rating of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have 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 twelve-month target price among analysts that have issued a report on the stock in the last year is C$31.00.

Several research firms have commented on ABX. TD Securities reissued a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a research report on Wednesday, October 16th. Stifel Nicolaus lowered their price objective on Barrick Gold from C$33.50 to C$32.00 in a report on Monday. UBS Group lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Sanford C. Bernstein reduced their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th.

Insider Buying and Selling

In other news, Senior Officer Poupak Bahamin sold 2,500 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of C$24.49, for a total transaction of C$61,215.00. Also, Senior Officer Joel James Holliday sold 20,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of C$27.36, for a total value of C$547,298.10. Insiders have sold a total of 143,834 shares of company stock valued at $4,017,999 over the last three months. 0.60% of the stock is owned by corporate insiders.

Barrick Gold Stock Performance

ABX stock opened at C$24.23 on Tuesday. The firm has a 50 day moving average of C$26.51 and a two-hundred day moving average of C$25.24. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.50. The company has a market capitalization of C$42.40 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 2.34 and a beta of 0.48. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 45.38%.

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.