Barrick Gold (TSE:ABX) Reaches New 1-Year High at $28.60

Barrick Gold Co. (TSE:ABX) (NYSE:ABX)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$28.60 and last traded at C$28.55, with a volume of 350989 shares changing hands. The stock had previously closed at C$27.99.

Analyst Ratings Changes

ABX has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price target on Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. Eight Capital boosted their price objective on shares of Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. Finally, Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report 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 stock. Based on data from MarketBeat.com, Barrick Gold currently has an average rating of “Buy” and an average target price of C$30.18.

Barrick Gold Stock Performance

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 business’s 50-day moving average price is C$25.76 and its two-hundred day moving average price is C$23.73. The company has a market capitalization of C$49.54 billion, a P/E ratio of 24.55, a PEG ratio of 1.94 and a beta of 0.49.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The basic materials company reported C$0.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of C$4.33 billion during the quarter, compared to the consensus estimate of C$4.12 billion. As a group, analysts forecast that Barrick Gold Co. will post 2.2758921 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.138 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.55 dividend on an annualized basis and a yield of ∞. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.14. Barrick Gold’s payout ratio is presently 46.55%.

Insider Transactions at Barrick Gold

In related news, Director Andrew James Quinn bought 5,000 shares of Barrick Gold stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of C$26.00 per share, with a total value of C$129,999.00. In other Barrick Gold news, Director Andrew James Quinn acquired 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of C$26.00 per share, for a total transaction of C$129,999.00. Also, Senior Officer Riaan Grobler sold 94,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. 0.61% of the stock is owned by 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.