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

TD Securities reissued their buy rating on shares of Barrick Gold (TSE:ABX) (NYSE:ABX) in a research report released on Wednesday, Stock Target Advisor reports. TD Securities currently has a C$34.00 price target on the basic materials company’s stock.

Several other equities research analysts also recently weighed in on ABX. Canaccord Genuity Group raised their price objective on Barrick Gold from C$27.00 to C$30.00 in a report on Tuesday, April 23rd. Sanford C. Bernstein raised their target price on Barrick Gold from C$31.00 to C$32.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. 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. Berenberg Bank raised their target price on Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. Finally, National Bankshares lowered their target price 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. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Barrick Gold currently has an average rating of Moderate Buy and a consensus price target of C$29.73.

Barrick Gold Trading Down 1.6 %

TSE ABX opened at C$22.52 on Wednesday. The company has a quick ratio of 2.62, a current ratio of 3.16 and a debt-to-equity ratio of 16.32. Barrick Gold has a twelve month low of C$18.65 and a twelve month high of C$28.19. The company 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. The business’s fifty day moving average is C$22.12 and its 200 day moving average is C$22.16.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share for the quarter, beating the consensus estimate of C$0.28 by C$0.09. Barrick Gold had a return on equity of 6.17% and a net margin of 11.16%. The company had revenue of C$4.16 billion for the quarter, compared to the consensus estimate of C$4.28 billion. As a group, sell-side analysts expect that Barrick Gold will post 1.196793 EPS for the current fiscal year.

Barrick Gold Cuts Dividend

The company also recently announced 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 of this dividend was Wednesday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.78%. Barrick Gold’s dividend payout ratio is presently 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.