Barrick Gold (TSE:ABX) Given New C$32.00 Price Target at Sanford C. Bernstein

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target hoisted by Sanford C. Bernstein from C$31.00 to C$32.00 in a report published on Thursday, BayStreet.CA reports. The firm currently has an outperform rating on the basic materials company’s stock.

Several other brokerages have also commented on ABX. CIBC restated an outperform rating and issued a C$31.00 price objective on shares of Barrick Gold in a report on Thursday, February 15th. Berenberg Bank upped their price objective on shares of Barrick Gold from C$29.00 to C$31.00 in a report on Monday, April 8th. Raymond James decreased their price objective on shares of Barrick Gold from C$28.00 to C$24.00 in a report on Friday, February 16th. Veritas Investment Research upped their price objective on shares of Barrick Gold from C$20.70 to C$25.00 in a report on Friday, April 12th. Finally, Stifel Nicolaus reduced their target price on shares of Barrick Gold from C$30.00 to C$25.00 and set a buy rating on the stock in a research report on Friday, January 26th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Barrick Gold currently has a consensus rating of Moderate Buy and a consensus target price of C$28.40.

Barrick Gold Trading Up 1.6 %

TSE:ABX opened at C$23.38 on Thursday. The company has a fifty day moving average of C$21.51 and a 200 day moving average of C$21.96. Barrick Gold has a 52 week low of C$18.65 and a 52 week high of C$28.19. The company has a quick ratio of 2.62, a current ratio of 3.16 and a debt-to-equity ratio of 16.32. The firm has a market capitalization of C$41.15 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.94 and a beta of 0.46.

Barrick Gold (TSE:ABX) (NYSE:ABX) last posted its quarterly earnings results on Wednesday, February 14th. The basic materials company reported C$0.37 EPS for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.09. Barrick Gold had a net margin of 11.16% and a return on equity of 6.17%. The company had revenue of C$4.16 billion during the quarter, compared to analyst estimates of C$4.28 billion. On average, research analysts predict that Barrick Gold will post 1.196793 earnings per share for the current year.

Barrick Gold Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.71%. The ex-dividend date was Wednesday, February 28th. Barrick Gold’s dividend payout ratio (DPR) is 54.55%.

About Barrick Gold

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.