Barrick Gold (NYSE:GOLD) Trading Down 0.2%

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) were down 0.2% during mid-day trading on Tuesday . The company traded as low as $16.48 and last traded at $16.52. Approximately 2,451,133 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 21,666,150 shares. The stock had previously closed at $16.56.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. BMO Capital Markets reduced their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Price Performance

The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $30.39 billion, a PE ratio of 21.11, a PEG ratio of 0.47 and a beta of 0.51. The stock has a 50-day moving average price of $16.84 and a 200 day moving average price of $16.46.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data 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 company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities analysts forecast that Barrick Gold Corp will post 1.08 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.31%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. Barrick Gold’s payout ratio is presently 47.56%.

Hedge Funds Weigh In On Barrick Gold

Hedge funds have recently made changes to their positions in the company. Addenda Capital Inc. raised its stake in Barrick Gold by 88.1% in the 4th quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock valued at $56,176,000 after purchasing an additional 1,454,220 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Barrick Gold by 19.2% during the fourth quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock worth $19,026,000 after acquiring an additional 169,350 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. acquired a new stake in Barrick Gold in the 4th quarter valued at about $1,331,000. Corient Private Wealth LLC boosted its holdings in shares of Barrick Gold by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock worth $2,237,000 after purchasing an additional 1,066 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in shares of Barrick Gold by 17.9% in the fourth quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock valued at $1,332,000 after purchasing an additional 11,166 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.