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

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $23.30.

Several research firms have recently weighed in on GOLD. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, August 29th. Jefferies Financial Group increased their target price on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday. CIBC boosted their price target on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Royal Bank of Canada lifted their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Finally, Scotiabank upped their price target on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th.

Institutional Investors Weigh In On Barrick Gold

Institutional investors and hedge funds have recently modified their holdings of the company. Principal Securities Inc. bought a new stake in Barrick Gold in the fourth quarter valued at approximately $26,000. Dimensional Fund Advisors LP raised its stake in Barrick Gold by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,359,933 shares of the gold and copper producer’s stock valued at $115,051,000 after acquiring an additional 211,928 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Barrick Gold by 21.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 72,977 shares of the gold and copper producer’s stock valued at $1,320,000 after purchasing an additional 12,860 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Barrick Gold by 31.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 34,633 shares of the gold and copper producer’s stock valued at $627,000 after purchasing an additional 8,276 shares during the last quarter. Finally, Beacon Pointe Advisors LLC boosted its position in Barrick Gold by 10.8% during the fourth quarter. Beacon Pointe Advisors LLC now owns 36,505 shares of the gold and copper producer’s stock worth $660,000 after purchasing an additional 3,570 shares during the period. 62.85% of the stock is owned by institutional investors.

Barrick Gold Trading Up 1.3 %

GOLD opened at $20.84 on Monday. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $21.13. The firm has a market cap of $36.53 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.01. The firm’s fifty day moving average is $18.95 and its two-hundred day moving average is $17.47.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the company earned $0.19 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that Barrick Gold will post 1.22 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.92%. Barrick Gold’s dividend payout ratio is presently 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.