Barrick Gold (ABX) Given New $17.50 Price Target at TD Securities

Barrick Gold (NYSE:ABX) (TSE:ABX) had its price objective hoisted by TD Securities from $17.00 to $17.50 in a research report released on Friday morning. TD Securities currently has a hold rating on the basic materials company’s stock.

Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Barrick Gold from a hold rating to a buy rating and set a $17.00 price objective on the stock in a report on Monday, January 8th. BMO Capital Markets set a $16.00 price objective on Barrick Gold and gave the stock a hold rating in a report on Tuesday, December 19th. Desjardins restated a hold rating on shares of Barrick Gold in a report on Monday, December 11th. Citigroup cut Barrick Gold from a buy rating to a sell rating and set a $13.00 price objective on the stock. in a report on Thursday, November 30th. Finally, UBS Group decreased their price objective on Barrick Gold from $18.00 to $17.00 and set a neutral rating on the stock in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $18.48.

Barrick Gold (ABX) traded up $0.47 during mid-day trading on Friday, hitting $15.12. The stock had a trading volume of 15,248,200 shares, compared to its average volume of 10,200,000. Barrick Gold has a 1-year low of $13.28 and a 1-year high of $20.78. The company has a quick ratio of 1.56, a current ratio of 2.73 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $17,660.00, a PE ratio of 8.09, a price-to-earnings-growth ratio of 8.28 and a beta of -0.42.

Barrick Gold (NYSE:ABX) (TSE:ABX) last posted its quarterly earnings data on Wednesday, October 25th. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Barrick Gold had a return on equity of 7.73% and a net margin of 25.72%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the business earned $0.24 EPS. Barrick Gold’s revenue for the quarter was down 15.8% compared to the same quarter last year. sell-side analysts forecast that Barrick Gold will post 0.75 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Wednesday, November 29th. Barrick Gold’s payout ratio is currently 6.42%.

A number of institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in Barrick Gold by 0.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 24,308 shares of the basic materials company’s stock valued at $387,000 after acquiring an additional 143 shares during the last quarter. M&T Bank Corp boosted its holdings in Barrick Gold by 0.7% in the second quarter. M&T Bank Corp now owns 44,901 shares of the basic materials company’s stock valued at $713,000 after acquiring an additional 328 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Barrick Gold by 3.1% in the second quarter. D.A. Davidson & CO. now owns 16,644 shares of the basic materials company’s stock valued at $264,000 after acquiring an additional 500 shares during the last quarter. Guardian Capital Advisors LP boosted its holdings in Barrick Gold by 4.4% in the second quarter. Guardian Capital Advisors LP now owns 15,414 shares of the basic materials company’s stock valued at $308,000 after acquiring an additional 650 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in Barrick Gold by 11.6% in the second quarter. MML Investors Services LLC now owns 11,644 shares of the basic materials company’s stock valued at $185,000 after acquiring an additional 1,209 shares during the last quarter. Hedge funds and other institutional investors own 55.65% of the company’s stock.

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About Barrick Gold

Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.

Analyst Recommendations for Barrick Gold (NYSE:ABX)

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