Barrick Gold Corp (NYSE:GOLD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have been given an average rating of “Moderate Buy” by the fourteen brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $21.60.

GOLD has been the topic of several recent analyst reports. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. BMO Capital Markets decreased their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GOLD. Qube Research & Technologies Ltd bought a new position in shares of Barrick Gold in the third quarter valued at about $6,892,000. Alpine Global Management LLC bought a new position in Barrick Gold in the third quarter valued at approximately $313,000. Schonfeld Strategic Advisors LLC acquired a new position in Barrick Gold in the 3rd quarter worth $1,542,000. Advisors Asset Management Inc. boosted its position in shares of Barrick Gold by 10.1% during the third quarter. Advisors Asset Management Inc. now owns 31,990 shares of the gold and copper producer’s stock worth $465,000 after buying an additional 2,927 shares during the period. Finally, AXQ Capital LP bought a new position in shares of Barrick Gold during the 3rd quarter worth approximately $371,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Up 0.4 %

Shares of GOLD stock opened at $16.62 on Wednesday. The company has a market capitalization of $29.18 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 0.47 and a beta of 0.51. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $16.84 and a 200 day moving average price of $16.47. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $18.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Research analysts forecast that Barrick Gold will post 1.08 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a yield of 2.41%. Barrick Gold’s payout ratio is currently 48.78%.

About Barrick Gold

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.