Barrick Gold (TSE:ABX) Receives Buy Rating from TD Securities

TD Securities reaffirmed their buy rating on shares of Barrick Gold (TSE:ABX) (NYSE:ABX) in a research note issued to investors on Wednesday morning, Stock Target Advisor reports. The brokerage currently has a C$34.00 price objective on the basic materials company’s stock.

A number of other equities analysts have also recently commented on ABX. Eight Capital increased their target price on Barrick Gold from C$36.00 to C$38.00 in a report on Thursday, July 11th. Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Canaccord Genuity Group upped their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a report on Tuesday, July 23rd. One 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 stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$30.18.

Barrick Gold Price Performance

Shares of TSE ABX opened at C$27.42 on Wednesday. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. The firm has a fifty day moving average of C$26.75 and a 200 day moving average of C$24.62. The firm has a market cap of C$47.99 billion, a PE ratio of 23.04, a PEG ratio of 2.34 and a beta of 0.48. Barrick Gold has a one year low of C$18.65 and a one year high of C$28.67.

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, topping analysts’ consensus estimates of C$0.36 by C$0.08. The business had revenue of C$4.33 billion during the quarter, compared to analysts’ expectations of C$4.12 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. As a group, research analysts predict that Barrick Gold will post 2.2422764 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.138 per share. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Barrick Gold’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a yield of 2.01%. Barrick Gold’s payout ratio is 45.38%.

Insider Activity

In other news, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold stock in a transaction that occurred 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 related news, Senior Officer Riaan Grobler sold 94,000 shares of the firm’s stock in a transaction dated 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. Also, Director Andrew James Quinn bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of C$26.00 per share, for a total transaction of C$129,999.00. Insiders sold a total of 235,334 shares of company stock valued at $5,741,477 in the last 90 days. Company insiders own 0.60% of the company’s stock.

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.