Sanford C. Bernstein Issues Pessimistic Forecast for Barrick Gold (TSE:ABX) Stock Price

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price trimmed by Sanford C. Bernstein from C$37.00 to C$36.00 in a research report report published on Tuesday morning,BayStreet.CA reports.

Several other research firms have also recently weighed in on ABX. Stifel Nicolaus upped their target price on Barrick Gold from C$28.50 to C$33.50 in a research note on Monday, October 21st. TD Securities reaffirmed a “buy” rating and issued a C$34.00 price objective on shares of Barrick Gold in a research note on Wednesday, October 16th. 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. UBS Group cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Eight Capital lifted their price target on shares of Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th. Two 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 data from MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and a consensus price target of C$31.14.

Barrick Gold Stock Down 0.0 %

Shares of TSE ABX opened at C$25.62 on Tuesday. The stock has a market capitalization of C$44.84 billion, a P/E ratio of 21.53, a PEG ratio of 2.34 and a beta of 0.48. The stock’s fifty day moving average is C$27.28 and its 200 day moving average is C$25.09. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$29.50. 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 released its earnings results on Monday, August 12th. The basic materials company reported C$0.44 EPS for the quarter, beating 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 analyst estimates of C$4.12 billion. Sell-side analysts forecast that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

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 $0.135 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.11%. Barrick Gold’s dividend payout ratio (DPR) is currently 45.38%.

Insider Transactions at Barrick Gold

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

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.