Barrick Gold (TSE:ABX) Downgraded by UBS Group to “Hold”

UBS Group lowered shares of Barrick Gold (TSE:ABXFree Report) (NYSE:ABX) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

ABX has been the topic of a number of other reports. Argus upgraded shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Canaccord Genuity Group raised their target price on shares of Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. Eight Capital lifted their price target on shares of Barrick Gold from C$36.00 to C$38.00 in a research note on Thursday, July 11th. Stifel Nicolaus raised their price objective on Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. Finally, TD Securities reiterated a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.77.

Check Out Our Latest Analysis on Barrick Gold

Barrick Gold Stock Performance

Shares of TSE:ABX opened at C$27.88 on Wednesday. The company has a current ratio of 3.01, a quick ratio of 2.62 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. The company has a market capitalization of C$48.79 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 2.34 and a beta of 0.48. The firm’s 50-day moving average is C$27.43 and its 200 day moving average is C$24.98.

Barrick Gold (TSE:ABXGet Free Report) (NYSE:ABX) last released its earnings results on Monday, August 12th. The basic materials company reported C$0.44 EPS for the quarter, beating analysts’ consensus estimates of C$0.36 by C$0.08. Barrick Gold had a return on equity of 7.20% and a net margin of 12.78%. The firm had revenue of C$4.33 billion for the quarter, compared to analysts’ expectations of C$4.12 billion. Research analysts predict that Barrick Gold will post 2.2422764 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.138 dividend. This is a boost from Barrick Gold’s previous quarterly dividend of $0.14. This represents a $0.55 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is currently 45.38%.

Insider Buying and Selling

In other news, Senior Officer Riaan Grobler sold 94,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total value of C$1,784,693.40. 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 purchased at an average price of C$26.00 per share, for a total transaction of C$129,999.00. Also, Senior Officer Riaan Grobler sold 94,000 shares of Barrick Gold stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of C$18.99, for a total transaction of C$1,784,693.40. Insiders sold a total of 235,334 shares of company stock worth $5,741,477 in the last 90 days. 0.60% of the stock is owned by corporate insiders.

Barrick Gold Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Barrick Gold (TSE:ABX)

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