Insider Selling: Barrick Gold Co. (TSE:ABX) Director Sells 121,334 Shares of Stock

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) Director Christopher Lewis Coleman sold 121,334 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total value of C$3,409,485.40.

Barrick Gold Stock Performance

ABX traded down C$0.69 during trading hours on Friday, reaching C$27.63. The company’s stock had a trading volume of 893,211 shares, compared to its average volume of 3,582,269. The company’s 50-day moving average is C$26.24 and its 200-day moving average is C$24.07. Barrick Gold Co. has a 52 week low of C$18.65 and a 52 week high of C$28.67. The firm has a market cap of C$48.35 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 1.94 and a beta of 0.49. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its 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. The company had revenue of C$4.33 billion during the quarter, compared to analysts’ expectations of C$4.12 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. On average, equities analysts forecast that Barrick Gold Co. will post 2.2676519 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently disclosed 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 represents a $0.55 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from Barrick Gold’s previous quarterly dividend of $0.14. Barrick Gold’s payout ratio is currently 46.15%.

Wall Street Analysts Forecast Growth

ABX has been the subject of a number of recent research reports. Eight Capital upped their price target on Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Canaccord Genuity Group increased their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Finally, Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$30.18.

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.