Barrick Gold (NYSE:GOLD) Shares Down 0.1%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price fell 0.1% during mid-day trading on Friday . The company traded as low as $16.81 and last traded at $16.82. 2,196,020 shares traded hands during trading, a decline of 90% from the average session volume of 21,832,387 shares. The stock had previously closed at $16.84.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOLD. BMO Capital Markets cut their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $18.00 price target on shares of Barrick Gold in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Stock Down 1.0 %

The business has a 50 day simple moving average of $16.84 and a 200 day simple moving average of $16.49. 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 stock has a market cap of $29.28 billion, a PE ratio of 20.34, a P/E/G ratio of 0.48 and a beta of 0.59.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the company posted $0.14 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts forecast that Barrick Gold Corp will post 1.08 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. Shareholders of record on Friday, May 31st were given a $0.10 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.40%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s payout ratio is currently 47.56%.

Institutional Trading of Barrick Gold

A number of institutional investors and hedge funds have recently made changes to their positions in GOLD. Mariner LLC lifted its position in shares of Barrick Gold by 3.0% in the third quarter. Mariner LLC now owns 135,955 shares of the gold and copper producer’s stock worth $1,978,000 after buying an additional 3,901 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Barrick Gold in the third quarter worth about $6,892,000. Alpine Global Management LLC acquired a new stake in shares of Barrick Gold in the third quarter worth about $313,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Barrick Gold in the third quarter worth about $1,542,000. Finally, United Services Automobile Association lifted its position in shares of Barrick Gold by 7.8% in the third quarter. United Services Automobile Association now owns 51,849 shares of the gold and copper producer’s stock worth $752,000 after buying an additional 3,755 shares during the last quarter. 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.