TD Securities Reaffirms “Buy” Rating for Barrick Gold (TSE:ABX)

TD Securities restated 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 target price on the basic materials company’s stock.

ABX has been the subject of a number of other research reports. Berenberg Bank raised their target price on shares of Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. Raymond James lowered their target price on Barrick Gold from C$28.00 to C$24.00 in a research report on Friday, February 16th. CIBC reiterated an outperform rating and set a C$31.00 target price on shares of Barrick Gold in a report on Thursday, February 15th. Canaccord Genuity Group raised their price target on Barrick Gold from C$27.00 to C$30.00 in a research note on Tuesday, April 23rd. Finally, Veritas Investment Research upped their price objective on Barrick Gold from C$20.70 to C$25.00 in a research note on Friday, April 12th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of C$29.73.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at C$22.52 on Wednesday. The company has a debt-to-equity ratio of 16.32, a current ratio of 3.16 and a quick ratio of 2.62. The firm has a market cap of C$39.64 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. Barrick Gold has a one year low of C$18.65 and a one year high of C$28.19. The stock’s 50-day moving average is C$22.19 and its 200-day moving average is C$22.16.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly 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 the consensus estimate of C$4.28 billion. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%. Equities analysts predict that Barrick Gold will post 1.196793 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.135 per share. This is an increase from Barrick Gold’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.54 annualized dividend and a yield of 2.40%. 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.