TD Securities Reaffirms Buy Rating for Barrick Gold (TSE:ABX)

TD Securities restated their buy rating on shares of Barrick Gold (TSE:ABX) (NYSE:ABX) in a research report sent to investors on Wednesday, Stock Target Advisor reports. They currently have a C$34.00 price objective on the basic materials company’s stock.

A number of other equities research analysts have also recently commented on ABX. Argus raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Eight Capital raised their price objective on Barrick Gold from C$36.00 to C$38.00 in a research note on Thursday, July 11th. Finally, Canaccord Genuity Group lifted their target price on Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold presently has an average rating of “Buy” and an average target price of C$30.18.

Barrick Gold Trading Up 2.9 %

Shares of ABX stock opened at C$28.88 on Wednesday. The company has a market cap of C$50.54 billion, a P/E ratio of 24.27, a PEG ratio of 2.34 and a beta of 0.48. The stock has a 50 day simple moving average of C$26.89 and a two-hundred day simple moving average of C$24.70. 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 has a fifty-two week low of C$18.65 and a fifty-two week high of C$29.18.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data on Monday, August 12th. The basic materials company reported C$0.44 EPS for the quarter, beating analysts’ consensus estimates of C$0.36 by C$0.08. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. The firm had revenue of C$4.33 billion during the quarter, compared to analysts’ expectations of C$4.12 billion. Research analysts forecast that Barrick Gold will post 2.2422764 earnings per share for the current year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.138 per share. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is 45.38%.

Insider Buying and Selling

In other news, Director Andrew James Quinn bought 5,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were purchased at an average cost of C$26.00 per share, for a total transaction of C$129,999.00. In other Barrick Gold news, Director Christopher Lewis Coleman sold 121,334 shares of the business’s stock in a transaction on 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. Also, Director Andrew James Quinn bought 5,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of C$26.00 per share, for a total transaction of C$129,999.00. Over the last three months, insiders have sold 235,334 shares of company stock worth $5,741,477. 0.60% of the stock is owned by company 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.