Barrick Gold’s (ABX) “Buy” Rating Reaffirmed at TD Securities

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

ABX has been the subject of several other research reports. Stifel Nicolaus lowered their target price on shares of Barrick Gold from C$30.00 to C$25.00 and set a buy rating for the company in a report on Friday, January 26th. National Bank Financial reiterated a sector perform overweight rating on shares of Barrick Gold in a report on Monday, April 8th. Veritas Investment Research lifted their price objective on shares of Barrick Gold from C$20.70 to C$25.00 in a report on Friday, April 12th. Raymond James decreased their price objective on shares of Barrick Gold from C$28.00 to C$24.00 in a report on Friday, February 16th. Finally, Berenberg Bank lifted their price objective on shares of Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of C$28.40.

Barrick Gold Price Performance

Barrick Gold stock opened at C$23.38 on Tuesday. The firm has a 50-day moving average price of C$21.51 and a 200-day moving average price of C$21.96. The firm has a market capitalization of C$41.15 billion, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. 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 has a 12-month low of C$18.65 and a 12-month high of C$28.19.

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 (EPS) for the quarter, topping the consensus estimate of C$0.28 by C$0.09. The firm had revenue of C$4.16 billion during the quarter, compared to analyst estimates of C$4.28 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 6.17%. As a group, equities research analysts forecast that Barrick Gold will post 1.196793 EPS for the current year.

Barrick Gold Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.10 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.71%. Barrick Gold’s 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.