Stifel Nicolaus Cuts Barrick Gold (TSE:ABX) Price Target to C$32.00

Barrick Gold (TSE:ABX) (NYSE:ABX) had its price target reduced by Stifel Nicolaus from C$33.50 to C$32.00 in a research note released on Monday,BayStreet.CA reports.

Several other research firms have also commented on ABX. UBS Group lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Argus upgraded Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. TD Securities restated a “buy” rating and issued a C$34.00 price target on shares of Barrick Gold in a research report on Wednesday, October 16th. Cibc World Mkts lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Sanford C. Bernstein dropped their price target on Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned 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$31.00.

Barrick Gold Stock Performance

TSE ABX opened at C$24.45 on Monday. The stock has a market capitalization of C$42.79 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 2.34 and a beta of 0.48. Barrick Gold has a twelve month low of C$18.65 and a twelve month high of C$29.50. The company has a current ratio of 3.01, a quick ratio of 2.62 and a debt-to-equity ratio of 14.54. The stock has a 50-day moving average of C$26.33 and a 200 day moving average of C$25.24.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.21%. Barrick Gold’s payout ratio is 45.38%.

Insider Transactions at Barrick Gold

In related news, Director Dennis Mark Bristow acquired 85,296 shares of the stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of C$25.03 per share, with a total value of C$2,135,291.53. Also, Director Christopher Lewis Coleman sold 121,334 shares of the business’s stock in a transaction 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. Insiders sold a total of 143,834 shares of company stock valued at $4,017,999 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

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.