Barrick Gold (ABX) Reaches New 1-Year High After Insider Buying Activity

Shares of Barrick Gold Corp (TSE:ABX) (NYSE:ABX) hit a new 52-week high on Thursday following insider buying activity. The stock traded as high as C$18.08 and last traded at C$17.88, with a volume of 2849652 shares changing hands. The stock had previously closed at C$17.63.

Specifically, insider Gregory Alan Pool Walker bought 11,656 shares of Barrick Gold stock in a transaction that occurred on Monday, December 3rd. The stock was purchased at an average cost of C$17.02 per share, with a total value of C$198,385.12. Also, Director Pablo Marcet bought 3,500 shares of Barrick Gold stock in a transaction that occurred on Wednesday, September 26th. The stock was bought at an average cost of C$11.06 per share, with a total value of C$38,710.00. Insiders bought a total of 2,286,185 shares of company stock valued at $25,447,174 in the last three months.

A number of brokerages recently weighed in on ABX. Canaccord Genuity upped their target price on shares of Barrick Gold from C$17.00 to C$17.50 in a research note on Thursday, November 8th. Cormark reduced their target price on shares of Barrick Gold from C$17.00 to C$16.50 in a research note on Sunday, October 14th. JPMorgan Chase & Co. upped their target price on shares of Barrick Gold from C$17.00 to C$18.00 in a research note on Friday, October 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Barrick Gold in a research note on Wednesday, September 26th.

The company has a debt-to-equity ratio of 53.76, a quick ratio of 1.22 and a current ratio of 2.65.

Barrick Gold (TSE:ABX) (NYSE:ABX) last issued its quarterly earnings results on Wednesday, October 24th. The company reported C$0.10 EPS for the quarter, topping the consensus estimate of C$0.08 by C$0.02. The business had revenue of C$2.40 billion for the quarter, compared to the consensus estimate of C$2.35 billion. On average, equities analysts anticipate that Barrick Gold Corp will post 0.48 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be given a dividend of $0.039 per share. The ex-dividend date is Thursday, November 29th. This represents a $0.16 annualized dividend and a yield of 0.88%. Barrick Gold’s dividend payout ratio (DPR) is presently -21.05%.

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About Barrick Gold (TSE:ABX)

Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a 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, a copper mine located in Saudi Arabia.

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