Analysts Set Barrick Gold Co. (TSE:ABX) Target Price at C$31.00

Shares of Barrick Gold Co. (TSE:ABX) (NYSE:ABX) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$31.00.

Several research analysts have commented on the stock. Cibc World Mkts lowered shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Sanford C. Bernstein cut their price target on shares of Barrick Gold from C$37.00 to C$36.00 in a report on Tuesday, November 5th. Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. TD Securities reaffirmed a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a research note on Wednesday, October 16th. Finally, UBS Group lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at C$24.23 on Tuesday. The stock has a market cap of C$42.40 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. The stock has a 50 day moving average price of C$26.11 and a 200-day moving average price of C$25.27. Barrick Gold has a one year low of C$18.65 and a one year high of C$29.50.

Barrick Gold Cuts Dividend

The company also recently declared 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 payout ratio is 45.38%.

Insider Activity

In other Barrick Gold news, Senior Officer Joel James Holliday sold 20,000 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$27.36, for a total transaction of C$547,298.10. Also, Director Christopher Lewis Coleman sold 121,334 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total value of C$3,409,485.40. Over the last 90 days, insiders have sold 143,834 shares of company stock worth $4,017,999. Company insiders own 0.60% of the company’s stock.

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.