Barrick Gold (TSE:ABX) Stock Rating Lowered by Cibc World Mkts

Cibc World Mkts downgraded shares of Barrick Gold (TSE:ABX) (NYSE:ABX) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

ABX has been the subject of a number of other research reports. UBS Group lowered Barrick Gold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. 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 price target on Barrick Gold from C$37.00 to C$36.00 in a research report on Tuesday, November 5th. Argus raised shares of Barrick Gold from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, TD Securities reaffirmed a “buy” rating and issued a C$34.00 target price on shares of Barrick Gold in a report on Wednesday, October 16th. Three equities 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$31.14.

Barrick Gold Price Performance

Shares of TSE ABX opened at C$24.73 on Monday. The company has a 50 day simple moving average of C$26.73 and a two-hundred day simple moving average of C$25.17. Barrick Gold has a fifty-two week low of C$18.65 and a fifty-two week high of C$29.50. The company has a market capitalization of C$43.28 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 2.34 and a beta of 0.48. The company has a debt-to-equity ratio of 14.54, a quick ratio of 2.62 and a current ratio of 3.01.

Barrick Gold Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio is currently 45.38%.

Insiders Place Their Bets

In other news, Director Christopher Lewis Coleman sold 121,334 shares of the stock in a transaction that occurred on 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. Also, Director Dennis Mark Bristow acquired 85,296 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average cost of C$25.03 per share, for a total transaction of C$2,135,291.53. 0.60% of the stock is currently owned by insiders.

Barrick Gold Company Profile

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.