Barrick Gold (TSE:ABX) Price Target Raised to C$32.00 at Sanford C. Bernstein

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target lifted by Sanford C. Bernstein from C$31.00 to C$32.00 in a research report sent to investors on Thursday, BayStreet.CA reports. They currently have an outperform rating on the basic materials company’s stock.

Other equities research analysts also recently issued reports about the stock. Veritas Investment Research lifted their price target on shares of Barrick Gold from C$20.70 to C$25.00 in a report on Friday, April 12th. National Bank Financial restated a sector perform overweight rating on shares of Barrick Gold in a report on Monday, April 8th. Raymond James lowered their target price on shares of Barrick Gold from C$28.00 to C$24.00 in a report on Friday, February 16th. Stifel Nicolaus lowered their target price on shares of Barrick Gold from C$30.00 to C$25.00 and set a buy rating for the company in a report on Friday, January 26th. Finally, CIBC restated an outperform rating and issued a C$31.00 target price on shares of Barrick Gold in a report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of C$28.60.

Barrick Gold Stock Performance

Shares of TSE ABX opened at C$23.53 on Thursday. The company has a market cap of C$41.41 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$28.19. The company has a debt-to-equity ratio of 16.32, a current ratio of 3.16 and a quick ratio of 2.62. The company has a 50-day simple moving average of C$21.59 and a 200-day simple moving average of C$22.03.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 EPS for the quarter, topping analysts’ consensus estimates of C$0.28 by C$0.09. The business had revenue of C$4.16 billion during the quarter, compared to the consensus estimate of C$4.28 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 6.17%. On average, equities analysts anticipate that Barrick Gold will post 1.196793 earnings per share for the current year.

Barrick Gold Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.40 annualized dividend and a yield of 1.70%. Barrick Gold’s dividend payout ratio is currently 54.55%.

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.