Barrick Gold (ABX) Sets New 1-Year Low at $17.32

Barrick Gold Co. (TSE:ABX) (NYSE:ABX) reached a new 52-week low on Thursday . The stock traded as low as C$17.32 and last traded at C$18.05, with a volume of 1911984 shares changing hands. The stock had previously closed at C$18.17.

Several equities research analysts recently weighed in on the company. CSFB cut their price objective on Barrick Gold to C$24.00 and set a “neutral” rating on the stock in a report on Thursday, October 26th. TD Securities cut their price objective on Barrick Gold to C$22.00 and set a “hold” rating on the stock in a report on Monday, November 6th. Canaccord Genuity cut their price objective on Barrick Gold from C$27.50 to C$25.00 and set a “buy” rating on the stock in a report on Friday, October 20th. BMO Capital Markets reissued a “market perform” rating and set a C$18.00 price objective on shares of Barrick Gold in a report on Friday, October 13th. Finally, Royal Bank Of Canada downgraded Barrick Gold from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from C$21.00 to C$18.00 in a report on Wednesday, November 1st. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of C$22.43.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.037 per share. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.03. This represents a $0.15 annualized dividend and a yield of 0.83%. The ex-dividend date is Wednesday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is currently 4.64%.

In related news, Director Kelvin Paul Michael Dushnisky bought 56,733 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was acquired at an average cost of C$17.97 per share, with a total value of C$1,019,492.01. Also, insider Richard James Elton Williams bought 27,302 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were bought at an average cost of C$17.97 per share, with a total value of C$490,616.94.

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About Barrick Gold

Barrick Gold Corporation (Barrick) is a gold mining company. The Company is principally engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. The Company’s segments include Goldstrike, Cortez, Pueblo Viejo, Lagunas Norte, Veladero, Turquoise Ridge, Acacia Mining plc (Acacia), Pascua-Lama and Other Mines.

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