Stifel Nicolaus Increases Barrick Gold (TSE:ABX) Price Target to C$33.50

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price upped by Stifel Nicolaus from C$28.50 to C$33.50 in a report issued on Monday morning, BayStreet.CA reports.

Several other analysts have also recently weighed in on ABX. Eight Capital lifted their price target on Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Canaccord Genuity Group boosted their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. Finally, TD Securities reaffirmed a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$30.77.

Barrick Gold Stock Down 1.7 %

Shares of Barrick Gold stock opened at C$28.77 on Monday. The firm has a market cap of C$50.35 billion, a PE ratio of 24.18, a P/E/G ratio of 2.34 and a beta of 0.48. The business’s 50 day simple moving average is C$27.19 and its 200 day simple moving average is C$24.87. 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 52-week low of C$18.65 and a 52-week high of C$29.50.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 EPS for the quarter, topping the consensus estimate 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 firm had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.12 billion. On average, analysts predict that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.138 dividend. The ex-dividend date was Friday, August 30th. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.14. This represents a $0.55 annualized dividend and a yield of 1.92%. Barrick Gold’s payout ratio is 45.38%.

Insiders Place Their Bets

In other news, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold 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. In other news, Director Christopher Lewis Coleman sold 121,334 shares of the business’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. Also, Senior Officer Riaan Grobler sold 94,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. In the last three months, insiders have sold 235,334 shares of company stock worth $5,741,477. Corporate 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.