Barrick Gold (TSE:ABX) Price Target Increased to C$30.00 by Analysts at Canaccord Genuity Group

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target upped by Canaccord Genuity Group from C$27.00 to C$30.00 in a report released on Tuesday morning, BayStreet.CA reports.

ABX has been the subject of a number of other reports. TD Securities reissued a buy rating and issued a C$29.00 price target on shares of Barrick Gold in a research report on Tuesday, April 16th. Veritas Investment Research raised their price objective on shares of Barrick Gold from C$20.70 to C$25.00 in a research report on Friday, April 12th. Raymond James cut their price objective on shares of Barrick Gold from C$28.00 to C$24.00 in a research report on Friday, February 16th. Stifel Nicolaus raised their price objective on shares of Barrick Gold from C$25.00 to C$27.00 and gave the company a buy rating in a research report on Friday, April 19th. Finally, Sanford C. Bernstein raised their price objective on shares of Barrick Gold from C$31.00 to C$32.00 and gave the company an outperform rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of C$29.27.

Barrick Gold Price Performance

ABX stock opened at C$23.36 on Tuesday. The company has a current ratio of 3.16, a quick ratio of 2.62 and a debt-to-equity ratio of 16.32. Barrick Gold has a one year low of C$18.65 and a one year high of C$28.19. The firm has a market capitalization of C$41.11 billion, a PE ratio of 23.60, a P/E/G ratio of 1.94 and a beta of 0.46. The firm has a 50-day moving average of C$21.93 and a two-hundred day moving average of C$22.10.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.28 by C$0.09. The business had revenue of C$4.16 billion during the quarter, compared to analyst estimates of C$4.28 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 6.17%. On average, analysts forecast that Barrick Gold will post 1.196793 earnings per share for the current year.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.10 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.71%. Barrick Gold’s payout ratio is 54.55%.

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.