Barrick Gold (TSE:ABX) Price Target Increased to C$25.00 by Analysts at Veritas Investment Research

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price raised by Veritas Investment Research from C$20.70 to C$25.00 in a report issued on Friday, Marketbeat.com reports.

A number of other brokerages have also recently weighed in on ABX. Berenberg Bank increased their price target on Barrick Gold from C$29.00 to C$31.00 in a research report on Monday, April 8th. National Bank Financial reiterated a sector perform overweight rating on shares of Barrick Gold in a research report on Monday, April 8th. Sanford C. Bernstein dropped their price target on Barrick Gold from C$30.00 to C$29.00 and set an outperform rating on the stock in a research report on Thursday, January 25th. CIBC restated an outperform rating and issued a C$31.00 target price on shares of Barrick Gold in a research report on Thursday, February 15th. Finally, Stifel Nicolaus lowered their target price on Barrick Gold from C$30.00 to C$25.00 and set a buy rating on the stock in a research report on Friday, January 26th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of C$28.65.

Barrick Gold Trading Down 2.7 %

Shares of TSE ABX opened at C$23.97 on Friday. The stock’s 50 day moving average price is C$21.34 and its two-hundred day moving average price is C$21.92. Barrick Gold has a 52-week low of C$18.65 and a 52-week high of C$28.19. The stock has a market capitalization of C$42.19 billion, a P/E ratio of 24.21, a PEG ratio of 1.94 and a beta of 0.46. 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 (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings data on Wednesday, February 14th. The basic materials company reported C$0.37 earnings per share (EPS) 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 firm had revenue of C$4.16 billion for the quarter, compared to analysts’ expectations of C$4.28 billion. On average, analysts anticipate that Barrick Gold will post 1.196793 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.67%. Barrick Gold’s payout ratio 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.