Barrick Gold (TSE:ABX) Price Target Raised to C$30.00 at Canaccord Genuity Group

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price objective lifted by Canaccord Genuity Group from C$27.00 to C$30.00 in a report published on Tuesday, BayStreet.CA reports.

A number of other research firms also recently issued reports on ABX. Berenberg Bank lifted their price target on Barrick Gold from C$29.00 to C$31.00 in a research note on Monday, April 8th. Stifel Nicolaus upped their price target on Barrick Gold from C$25.00 to C$27.00 and gave the stock a buy rating in a report on Friday, April 19th. Raymond James dropped their price objective on Barrick Gold from C$28.00 to C$24.00 in a research note on Friday, February 16th. Eight Capital upped their target price on shares of Barrick Gold from C$32.00 to C$36.00 and gave the stock a buy rating in a research note on Monday. Finally, Veritas Investment Research raised their price target on shares of Barrick Gold from C$20.70 to C$25.00 in a research report on Friday, April 12th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of C$29.27.

Barrick Gold Stock Performance

Shares of Barrick Gold stock opened at C$22.80 on Tuesday. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$28.19. The company’s 50 day moving average price is C$21.72 and its two-hundred day moving average price is C$22.07. The company has a debt-to-equity ratio of 16.32, a current ratio of 3.16 and a quick ratio of 2.62. The firm has a market capitalization of C$40.13 billion, a P/E ratio of 23.03, a P/E/G ratio of 1.94 and a beta of 0.46.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 EPS for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.09. The business had revenue of C$4.16 billion for the quarter, compared to analysts’ expectations of C$4.28 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 6.17%. On average, equities analysts forecast that Barrick Gold will post 1.196793 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.10 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.75%. 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.