Barrick Gold (ABX) Receives Average Recommendation of “Hold” from Brokerages

Shares of Barrick Gold (TSE:ABX) (NYSE:ABX) have been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$21.00.

Several equities research analysts recently weighed in on ABX shares. Desjardins cut their price objective on shares of Barrick Gold from C$19.50 to C$19.00 in a research report on Wednesday, February 21st. Canaccord Genuity cut their price objective on shares of Barrick Gold from C$27.00 to C$22.50 in a research report on Friday, February 23rd. Finally, BMO Capital Markets set a C$15.00 price objective on shares of Barrick Gold and gave the stock a “market perform” rating in a research report on Thursday, February 15th.

Shares of Barrick Gold traded down C$0.12, hitting C$16.83, on Tuesday, Marketbeat Ratings reports. The company’s stock had a trading volume of 1,483,000 shares, compared to its average volume of 2,703,701. Barrick Gold has a fifty-two week low of C$14.26 and a fifty-two week high of C$23.02.

Barrick Gold (TSE:ABX) (NYSE:ABX) last released its quarterly earnings results on Monday, April 23rd. The company reported C$0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.19 by C($0.01). Barrick Gold had a negative net margin of 36.36% and a negative return on equity of 27.89%. The business had revenue of C$2.26 billion during the quarter, compared to analyst estimates of C$2.25 billion.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be given a dividend of $0.039 per share. This is a boost from Barrick Gold’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, May 30th. This represents a $0.16 annualized dividend and a yield of 0.93%.

In related news, Director Pablo Marcet bought 1,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average price of C$1,000.00 per share, with a total value of C$1,000,000.00. Also, Director John Lawson Thornton bought 306,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The stock was bought at an average cost of C$11.72 per share, with a total value of C$3,586,320.00. Insiders have purchased 412,253 shares of company stock valued at $6,342,284 in the last ninety days.

Barrick Gold Company Profile

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.

Analyst Recommendations for Barrick Gold (TSE:ABX)

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