Barrick Gold (TSE:ABX) Price Target Lowered to C$36.00 at Sanford C. Bernstein

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target lowered by Sanford C. Bernstein from C$37.00 to C$36.00 in a research note released on Tuesday, BayStreet.CA reports.

A number of other equities analysts also recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Barrick Gold from C$28.50 to C$33.50 in a research note on Monday, October 21st. Canaccord Genuity Group raised their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a research note on Tuesday, July 23rd. Eight Capital raised their target price on shares of Barrick Gold from C$36.00 to C$38.00 in a research note on Thursday, July 11th. Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, UBS Group downgraded shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$31.14.

Barrick Gold Price Performance

ABX stock opened at C$26.11 on Tuesday. Barrick Gold has a 1 year low of C$18.65 and a 1 year high of C$29.50. The company has a market cap of C$45.69 billion, a P/E ratio of 21.94, a PEG ratio of 2.34 and a beta of 0.48. The firm has a 50-day moving average of C$27.41 and a 200 day moving average of C$25.06. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62.

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 (EPS) for the quarter, topping analysts’ consensus estimates of C$0.36 by C$0.08. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. The company had revenue of C$4.33 billion during the quarter, compared to the consensus estimate of C$4.12 billion. On average, sell-side analysts forecast that Barrick Gold will post 2.2422764 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.138 per share. This is a boost from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, August 30th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 2.11%. Barrick Gold’s dividend payout ratio is presently 45.38%.

Insider Activity

In related 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 value of C$1,784,693.40. In related 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 value of C$1,784,693.40. Also, Director Christopher Lewis Coleman sold 121,334 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. Insiders have sold a total of 235,334 shares of company stock worth $5,741,477 over the last 90 days. 0.60% of the stock is currently owned by insiders.

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.