Barrick Gold (TSE:ABX) Given New C$30.00 Price Target at Canaccord Genuity Group

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

A number of other analysts also recently weighed in on ABX. Berenberg Bank increased their price target on shares of Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. National Bank Financial reissued a sector perform overweight rating on shares of Barrick Gold in a research report on Monday, April 8th. Raymond James lowered their price target on Barrick Gold from C$28.00 to C$24.00 in a research note on Friday, February 16th. National Bankshares reduced their price objective on Barrick Gold from C$30.00 to C$28.00 and set a sector perform rating for the company in a research report on Friday, April 19th. Finally, CIBC restated an outperform rating and set a C$31.00 price objective on shares of Barrick Gold in a research report on Thursday, February 15th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of C$29.27.

Barrick Gold Price Performance

Shares of Barrick Gold stock opened at C$22.80 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. The firm has a fifty day simple moving average of C$21.72 and a 200-day simple moving average of C$22.07. The stock has a market capitalization of C$40.13 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.94 and a beta of 0.46. Barrick Gold has a 1-year low of C$18.65 and a 1-year high of C$28.19.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.28 by C$0.09. The firm 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, sell-side analysts expect that Barrick Gold will post 1.196793 earnings per share for the current year.

Barrick Gold Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is currently 54.55%.

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.