Barrick Gold (NYSE:GOLD) Trading Down 0.3%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price dropped 0.3% during mid-day trading on Tuesday . The stock traded as low as $16.50 and last traded at $16.67. Approximately 2,259,185 shares were traded during trading, a decline of 90% from the average daily volume of 21,988,518 shares. The stock had previously closed at $16.72.

Analysts Set New Price Targets

GOLD has been the topic of several analyst reports. BMO Capital Markets decreased their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 price objective on shares of Barrick Gold in a report on Monday, March 4th. Finally, Jefferies Financial Group initiated coverage on shares of Barrick Gold in a report on Thursday, February 29th. They set a “buy” rating and a $21.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49. The firm has a market cap of $29.51 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 0.47 and a beta of 0.59. The business’s 50-day moving average price is $16.85 and its two-hundred day moving average price is $16.48.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the company earned $0.14 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, research analysts forecast that Barrick Gold Corp will post 1.06 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.38%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Institutional Trading of Barrick Gold

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in Barrick Gold by 58.4% in the fourth quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock worth $1,821,963,000 after purchasing an additional 37,128,653 shares during the period. Van ECK Associates Corp boosted its holdings in Barrick Gold by 9.7% in the fourth quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $1,464,070,000 after purchasing an additional 7,150,142 shares during the period. Vanguard Group Inc. boosted its holdings in Barrick Gold by 1.7% in the first quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock worth $1,077,624,000 after purchasing an additional 1,089,572 shares during the period. First Eagle Investment Management LLC boosted its holdings in Barrick Gold by 31.6% in the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock worth $978,766,000 after purchasing an additional 14,138,639 shares during the period. Finally, Capital World Investors boosted its holdings in Barrick Gold by 16.4% in the fourth quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock worth $821,790,000 after purchasing an additional 6,417,244 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.