JPMorgan Chase & Co. Raises Barrick Gold (ABX) Price Target to C$18.00

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Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target raised by JPMorgan Chase & Co. from C$17.00 to C$18.00 in a report published on Wednesday.

A number of other brokerages have also weighed in on ABX. Canaccord Genuity lifted their price target on shares of Barrick Gold from C$17.00 to C$17.50 in a report on Thursday, November 8th. Cormark decreased their price target on shares of Barrick Gold from C$17.00 to C$16.50 in a report on Sunday, October 14th. Finally, Royal Bank of Canada reiterated a sector perform rating on shares of Barrick Gold in a report on Wednesday, September 26th.

Shares of ABX opened at C$16.52 on Wednesday. Barrick Gold has a fifty-two week low of C$12.54 and a fifty-two week high of C$19.49. The company has a quick ratio of 1.22, a current ratio of 2.65 and a debt-to-equity ratio of 53.76.

Barrick Gold (TSE:ABX) (NYSE:ABX) last announced its quarterly earnings results on Wednesday, October 24th. The company reported C$0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.08 by C$0.02. The company had revenue of C$2.40 billion during the quarter, compared to analyst estimates of C$2.35 billion. Analysts predict that Barrick Gold will post 0.490000036029414 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Investors of record on Friday, December 28th will be issued a dividend of $0.093 per share. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Thursday, December 27th. This represents a $0.37 annualized dividend and a dividend yield of 2.25%. Barrick Gold’s payout ratio is presently -21.05%.

In other Barrick Gold news, insider Gregory Alan Pool Walker bought 11,656 shares of Barrick Gold stock in a transaction that occurred on Monday, December 3rd. The shares were acquired at an average price of C$17.02 per share, for a total transaction of C$198,385.12.

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.

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