Sanford C. Bernstein Cuts Barrick Gold (TSE:ABX) Price Target to C$36.00

Barrick Gold (TSE:ABX - Free Report) NYSE: ABX had its price objective reduced by Sanford C. Bernstein from C$37.00 to C$36.00 in a report issued on Tuesday, BayStreet.CA reports.

ABX has been the subject of a number of other reports. Stifel Nicolaus lifted their price target on shares of Barrick Gold from C$28.50 to C$33.50 in a research report 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 target price on shares of Barrick Gold in a research note on Wednesday, October 16th. UBS Group cut Barrick Gold from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Finally, Eight Capital upped their target price on Barrick Gold from C$36.00 to C$38.00 in a research note on Thursday, July 11th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$31.14.

Barrick Gold Stock Performance

Barrick Gold stock traded down C$0.16 during midday trading on Tuesday, reaching C$26.11. 2,338,352 shares of the company's stock were exchanged, compared to its average volume of 3,546,842. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$29.50. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01. The firm has a market cap of C$45.69 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 2.34 and a beta of 0.48. The stock's 50-day simple moving average is C$27.41 and its 200 day simple moving average is C$25.06.

Barrick Gold (TSE:ABX - Get Free Report) NYSE: ABX last issued its quarterly earnings data on Monday, August 12th. The basic materials company reported C$0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.36 by C$0.08. The firm had revenue of C$4.33 billion during the quarter, compared to the consensus estimate of C$4.12 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 7.20%. On average, analysts expect that Barrick Gold will post 2.2422764 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.138 per share. This is an increase from Barrick Gold's previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold's dividend payout ratio (DPR) is presently 45.38%.

Insiders Place Their Bets

In related news, Director Andrew James Quinn acquired 5,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of C$26.00 per share, with a total value of C$129,999.00. In related news, Director Andrew James Quinn acquired 5,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of C$26.00 per share, with a total value of C$129,999.00. Also, Senior Officer Joel James Holliday sold 20,000 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$27.36, for a total transaction of C$547,298.10. In the last ninety days, insiders sold 235,334 shares of company stock worth $5,741,477. Company insiders own 0.60% of the company's stock.

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.