Analysts Set Barrick Gold Co. (TSE:ABX) Target Price at C$29.73

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$29.73.

A number of equities analysts have recently commented on ABX shares. Berenberg Bank increased their price target on shares of Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. Raymond James reduced 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 increased their target price on shares of Barrick Gold from C$25.00 to C$27.00 and gave the company a “buy” rating in a report on Friday, April 19th. CIBC reaffirmed an “outperform” rating and set a C$31.00 target price on shares of Barrick Gold in a report on Thursday, February 15th. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th.

Barrick Gold Stock Performance

Barrick Gold stock opened at C$23.29 on Friday. The firm’s 50 day simple moving average is C$23.02 and its 200 day simple moving average is C$22.26. The company has a current ratio of 3.32, a quick ratio of 2.62 and a debt-to-equity ratio of 14.67. The firm has a market capitalization of C$40.99 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$26.05.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported C$0.26 EPS for the quarter, topping analysts’ consensus estimates of C$0.22 by C$0.04. The firm had revenue of C$3.70 billion for the quarter, compared to analyst estimates of C$3.98 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 6.83%. As a group, analysts expect that Barrick Gold will post 1.4430605 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 2.32%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, May 31st. Barrick Gold’s dividend payout ratio (DPR) is currently 49.55%.

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.