Barrick Gold (TSE:ABX) Stock Rating Lowered by Cibc World Mkts

Cibc World Mkts cut shares of Barrick Gold (TSE:ABX) (NYSE:ABX) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on ABX. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. TD Securities reiterated a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. UBS Group lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Sanford C. Bernstein reduced their target price on Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus boosted their price target on shares of Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$31.14.

Barrick Gold Stock Performance

ABX opened at C$24.68 on Monday. Barrick Gold has a 1 year low of C$18.65 and a 1 year high of C$29.50. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. The firm has a fifty day moving average price of C$26.58 and a 200 day moving average price of C$25.19. The stock has a market cap of C$43.19 billion, a P/E ratio of 20.74, a P/E/G ratio of 2.34 and a beta of 0.48.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 45.38%.

Insider Buying and Selling

In other news, Director Christopher Lewis Coleman sold 121,334 shares of the company’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, Senior Officer Joel James Holliday sold 20,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$27.36, for a total transaction of C$547,298.10. 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.