Barrick Gold (TSE:ABX) Cut to “Hold” at UBS Group

UBS Group lowered shares of Barrick Gold (TSE:ABX) (NYSE:ABX) from a strong-buy rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

A number of other research firms also recently issued reports on ABX. Eight Capital boosted their target price on shares of Barrick Gold from C$36.00 to C$38.00 in a research report on Thursday, July 11th. 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. Stifel Nicolaus boosted their target price on shares of Barrick Gold from C$28.50 to C$33.50 in a research report on Monday, October 21st. Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, TD Securities restated a “buy” rating and set a C$34.00 target price on shares of Barrick Gold in a research report on Wednesday, October 16th. Two research analysts have 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$30.77.

Barrick Gold Trading Down 1.2 %

TSE:ABX opened at C$26.60 on Wednesday. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.50. The firm has a fifty day simple moving average of C$27.45 and a 200-day simple moving average of C$25.04. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. The company has a market capitalization of C$46.55 billion, a P/E ratio of 22.35, a PEG ratio of 2.34 and a beta of 0.48.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings data 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 business had revenue of C$4.33 billion during the quarter, compared to the consensus estimate of C$4.12 billion. On average, equities research analysts anticipate that Barrick Gold will post 2.2422764 earnings per share for the current year.

Barrick Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.138 dividend. This is a boost from Barrick Gold’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, August 30th. This represents a $0.55 dividend on an annualized basis and a yield of 2.08%. Barrick Gold’s payout ratio is presently 45.38%.

Insider Buying and Selling at Barrick Gold

In other news, Senior Officer Riaan Grobler sold 94,000 shares of the business’s stock in a transaction dated 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 other news, Senior Officer Riaan Grobler sold 94,000 shares of the business’s stock in a transaction dated 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. Also, Senior Officer Joel James Holliday sold 20,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of C$27.36, for a total transaction of C$547,298.10. Over the last quarter, insiders sold 235,334 shares of company stock valued at $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.