Royal Bank of Canada Increases Barrick Gold (TSE:ABX) Price Target to C$21.00

Barrick Gold (TSE:ABX - Free Report) NYSE: ABX had its target price lifted by Royal Bank of Canada to C$21.00 in a research report report published on Friday,Stock Target Advisor reports. The firm currently has a buy rating on the basic materials company's stock.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus cut their target price on Barrick Gold from C$33.50 to C$32.00 in a research report on Monday, December 2nd. Argus upgraded shares of Barrick Gold from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 29th. Cibc World Mkts lowered shares of Barrick Gold from a "strong-buy" rating to a "hold" rating in a report on Monday, November 25th. TD Securities reaffirmed a "buy" rating and set a C$34.00 price target on shares of Barrick Gold in a research note on Wednesday, October 16th. Finally, Sanford C. Bernstein reduced their price objective on shares of Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$30.17.

Barrick Gold Price Performance

Barrick Gold stock traded up C$0.31 during midday trading on Friday, reaching C$22.22. 11,563,897 shares of the stock traded hands, compared to its average volume of 3,591,678. The stock has a market cap of C$38.89 billion, a P/E ratio of 18.67, a PEG ratio of 2.34 and a beta of 0.48. The stock's fifty day moving average is C$25.43 and its 200-day moving average is C$25.24. The company has a quick ratio of 2.62, a current ratio of 3.01 and a debt-to-equity ratio of 14.54. 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 was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, November 29th. Barrick Gold's dividend payout ratio is presently 45.38%.

Insider Activity at Barrick Gold

In other news, Senior Officer Poupak Bahamin sold 2,500 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of C$24.49, for a total value of C$61,215.00. Also, Director Christopher Lewis Coleman sold 121,334 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total value of C$3,409,485.40. 0.60% of the stock is currently owned by company insiders.

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.