Barrick Gold (TSE:ABX) Reaches New 1-Year High – Time to Buy?

by · The Markets Daily

Barrick Gold Co. (TSE:ABX – Get Free Report) (NYSE:ABX) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$28.78 and last traded at C$28.67, with a volume of 636919 shares changing hands. The stock had previously closed at C$28.07.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ABX shares. TD Securities reissued a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research note on Wednesday. Eight Capital lifted their price target on Barrick Gold from C$36.00 to C$38.00 in a research note on Thursday, July 11th. Canaccord Genuity Group increased their price objective on Barrick Gold from C$31.00 to C$33.00 in a research report on Tuesday, July 23rd. Finally, Argus raised Barrick Gold from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$30.18.

Get Our Latest Analysis on ABX

Barrick Gold Trading Up 3.7 %

The stock has a market capitalization of C$50.96 billion, a PE ratio of 23.82, a PEG ratio of 2.34 and a beta of 0.48. The stock has a 50-day moving average price of C$26.81 and a two-hundred day moving average price of C$24.67. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01.

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

Barrick Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.138 per share. The ex-dividend date was Friday, August 30th. This represents a $0.55 annualized dividend and a dividend yield of 1.90%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.14. Barrick Gold’s dividend payout ratio (DPR) is currently 45.38%.

Insider Buying and Selling

In other news, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total transaction of C$3,409,485.40. In other news, Director Christopher Lewis Coleman sold 121,334 shares of Barrick Gold stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of C$28.10, for a total value of C$3,409,485.40. Also, Senior Officer Joel James Holliday sold 20,000 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$27.36, for a total value of C$547,298.10. In the last three months, insiders have sold 235,334 shares of company stock valued at $5,741,477. Corporate insiders own 0.60% of the company’s stock.

About Barrick Gold

(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.

Featured Articles