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

TD Securities reaffirmed their buy rating on shares of Barrick Gold (TSE:ABX) (NYSE:ABX) in a report released on Tuesday, Stock Target Advisor reports. TD Securities currently has a C$29.00 price objective on the basic materials company’s stock.

Other analysts also recently issued research reports about the stock. CIBC reaffirmed an outperform rating and set a C$31.00 target price on shares of Barrick Gold in a report on Thursday, February 15th. 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 lowered their price objective on shares of Barrick Gold from C$30.00 to C$29.00 and set an outperform rating for the company in a research report on Thursday, January 25th. National Bankshares reduced their target price on shares of Barrick Gold from C$29.00 to C$28.00 and set a sector perform rating on the stock in a report on Tuesday, February 6th. Finally, Berenberg Bank boosted their target price on shares of Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Barrick Gold has a consensus rating of Moderate Buy and an average price target of C$28.40.

Barrick Gold Stock Up 1.6 %

Barrick Gold stock opened at C$23.38 on Tuesday. The company has a market cap of C$41.15 billion, a P/E ratio of 23.62, a price-to-earnings-growth 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. The company has a fifty day simple moving average of C$21.51 and a 200 day simple moving average of C$21.96. The company has a current ratio of 3.16, a quick ratio of 2.62 and a debt-to-equity ratio of 16.32.

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, beating analysts’ consensus estimates of C$0.28 by C$0.09. Barrick Gold had a net margin of 11.16% and a return on equity of 6.17%. The business had revenue of C$4.16 billion during the quarter, compared to the consensus estimate of C$4.28 billion. Research 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 declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.40 annualized dividend and a yield of 1.71%. Barrick Gold’s payout ratio is 54.55%.

Barrick Gold Company Profile

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.