Barrick Gold (TSE:ABX) Downgraded to Hold Rating by Cibc World Mkts

Cibc World Mkts lowered shares of Barrick Gold (TSE:ABX) (NYSE:ABX) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Several other equities research analysts also recently weighed in on ABX. Stifel Nicolaus raised their price target on Barrick Gold from C$28.50 to C$33.50 in a report on Monday, October 21st. Sanford C. Bernstein lowered their target price on shares of Barrick Gold from C$37.00 to C$36.00 in a research note on Tuesday, November 5th. TD Securities restated a “buy” rating and set a C$34.00 price target on shares of Barrick Gold in a research note on Wednesday, October 16th. UBS Group cut shares of Barrick Gold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$31.14.

Barrick Gold Stock Performance

Shares of ABX opened at C$24.65 on Monday. Barrick Gold has a 12 month low of C$18.65 and a 12 month high of C$29.50. The stock has a fifty day moving average price of C$26.64 and a 200-day moving average price of C$25.18. 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 firm has a market cap of C$43.14 billion, a PE ratio of 20.71, a P/E/G ratio of 2.34 and a beta of 0.48.

Barrick Gold Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 45.38%.

Insider Activity

In other news, Director Dennis Mark Bristow bought 85,296 shares of the stock in a transaction dated Thursday, November 21st. The shares were acquired 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 Barrick Gold stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$28.10, for a total value of C$3,409,485.40. 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.