Barrick Gold (TSE:ABX) Lowered to Hold Rating by Cibc World Mkts

Cibc World Mkts lowered shares of Barrick Gold (TSE:ABX) (NYSE:ABX) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. UBS Group cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein reduced their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. TD Securities restated a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus lifted their price objective on Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$31.14.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at C$24.73 on Monday. The firm has a market capitalization of C$43.28 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.50. The business’s 50-day moving average price is C$26.73 and its 200-day moving average price is C$25.17.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.135 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.54 annualized dividend and a dividend yield of 2.18%. Barrick Gold’s payout ratio is presently 45.38%.

Insider Buying and Selling at Barrick Gold

In related news, Senior Officer Poupak Bahamin bought 5,778 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was purchased at an average cost of C$25.03 per share, with a total value of C$144,645.87. Also, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction dated 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. 0.60% of the stock is currently owned by corporate insiders.

Barrick Gold Company Profile

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.