Canaccord Genuity Increases Barrick Gold (TSE:ABX) Price Target to C$22.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its target price boosted by Canaccord Genuity from C$21.00 to C$22.00 in a research note published on Monday morning, BayStreet.CA reports.

A number of other equities research analysts have also weighed in on the stock. Macquarie reaffirmed an outperform rating and set a C$28.50 target price on shares of Barrick Gold in a research note on Friday, September 13th. Eight Capital lifted their target price on shares of Barrick Gold from C$20.00 to C$28.00 in a research note on Thursday, August 8th. Finally, BMO Capital Markets reaffirmed an outperform rating and set a C$20.00 target price on shares of Barrick Gold in a research note on Thursday, July 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of C$21.24.

Shares of ABX opened at C$24.28 on Monday. The firm’s 50-day moving average price is C$24.16 and its 200-day moving average price is C$19.93. The firm has a market capitalization of $41.89 billion and a price-to-earnings ratio of -27.16. The company has a current ratio of 2.72, a quick ratio of 1.45 and a debt-to-equity ratio of 31.45. Barrick Gold has a 1-year low of C$13.20 and a 1-year high of C$26.69.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its earnings results on Monday, August 12th. The basic materials company reported C$0.12 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.01). The firm had revenue of C$2.76 billion for the quarter, compared to analysts’ expectations of C$2.78 billion. On average, research analysts forecast that Barrick Gold will post 0.49 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.053 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Thursday, August 29th. Barrick Gold’s payout ratio is -19.02%.

In related news, Senior Officer Mark Francis Hill bought 20,373 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were purchased at an average price of C$24.03 per share, with a total value of C$489,563.19. Following the purchase, the insider now owns 38,826 shares of the company’s stock, valued at approximately C$932,988.78.

A number of large investors have recently bought and sold shares of ABX. Comerica Bank boosted its stake in Barrick Gold by 42.0% during the first quarter. Comerica Bank now owns 97,345 shares of the basic materials company’s stock worth $1,323,000 after acquiring an additional 28,813 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in Barrick Gold by 48.7% during the first quarter. Cornerstone Advisors Inc. now owns 2,433 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 797 shares in the last quarter. Cetera Advisor Networks LLC boosted its stake in Barrick Gold by 18.8% during the first quarter. Cetera Advisor Networks LLC now owns 15,089 shares of the basic materials company’s stock worth $208,000 after acquiring an additional 2,387 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Barrick Gold during the first quarter worth about $1,727,000. Finally, Stratos Wealth Partners LTD. bought a new stake in Barrick Gold during the first quarter worth about $184,000.

Barrick Gold Company Profile

Barrick Gold Corporation explores for and develops mineral properties. The company primarily explores for gold, copper, and silver deposits. It holds a 50% interest in the Veladero, a gold mine located in Argentina; 50% interest in the Kalgoorlie gold mine located in Australia; 95% interest in the Porgera gold mine located in Papua New Guinea; 50% interest in the Zaldívar, a copper mine located in Chile; and 50% interest in the Jabal Sayid copper mine located in Saudi Arabia.

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Analyst Recommendations for Barrick Gold (TSE:ABX)

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