Barrick Gold Corp (ABX) Receives C$22.43 Consensus PT from Analysts
Shares of Barrick Gold Corp (TSE:ABX) (NYSE:ABX) have been given an average recommendation of “Hold” by the nine research firms that are covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$22.83.
ABX has been the subject of a number of recent research reports. Canaccord Genuity dropped their target price on Barrick Gold from C$30.00 to C$27.50 in a research report on Friday, September 29th. Royal Bank of Canada cut Barrick Gold from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$21.00 to C$18.00 in a research note on Wednesday, November 1st. Eight Capital reaffirmed a “neutral” rating on shares of Barrick Gold in a research note on Thursday, November 16th. BMO Capital Markets reaffirmed a “market perform” rating and set a C$18.00 price objective on shares of Barrick Gold in a research note on Friday, October 13th. Finally, Desjardins reaffirmed a “hold” rating on shares of Barrick Gold in a research note on Monday, December 11th.
In related news, Director Pablo Marcet acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average cost of C$14.10 per share, with a total value of C$35,250.00. Also, Director Graham G. Clow bought 5,000 shares of the firm’s stock in a transaction on Tuesday, December 19th. The stock was acquired at an average cost of C$14.44 per share, with a total value of C$72,200.00. Over the last ninety days, insiders have purchased 91,535 shares of company stock valued at $1,617,559.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were paid a dividend of $0.037 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This is a boost from Barrick Gold’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a dividend yield of 0.78%. Barrick Gold’s payout ratio is 4.70%.
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About Barrick Gold
Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.
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