Barrick Gold (TSE:ABX) Downgraded to Hold Rating by Cibc World Mkts

Cibc World Mkts cut shares of Barrick Gold (TSE:ABX - Free Report) NYSE: ABX from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Barrick Gold from C$28.50 to C$33.50 in a research note on Monday, October 21st. Argus upgraded shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 29th. TD Securities restated a "buy" rating and set a C$34.00 price objective on shares of Barrick Gold in a research note on Wednesday, October 16th. Sanford C. Bernstein dropped their price target on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. Finally, UBS Group cut shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Barrick Gold has a consensus rating of "Moderate Buy" and a consensus target price of C$31.14.

Barrick Gold Stock Performance

ABX traded down C$0.04 during trading hours on Monday, hitting C$24.69. 3,624,119 shares of the stock were exchanged, compared to its average volume of 3,606,114. The stock has a market cap of C$43.21 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 2.34 and a beta of 0.48. The stock has a 50-day simple moving average of C$26.69 and a 200-day simple moving average of C$25.17. The company has a debt-to-equity ratio of 14.54, a current ratio of 3.01 and a quick ratio of 2.62. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.50.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold's dividend payout ratio (DPR) is 45.38%.

Insider Activity at Barrick Gold

In related news, Director Christopher Lewis Coleman sold 121,334 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total value of C$3,409,485.40. Also, Senior Officer Poupak Bahamin purchased 5,778 shares of the stock in a transaction on Thursday, November 21st. The shares were bought at an average price of C$25.03 per share, for a total transaction of C$144,645.87. Insiders own 0.60% of the company's stock.

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.