Barrick Gold (NYSE:GOLD) Trading Up 0.7%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price shot up 0.7% during mid-day trading on Monday . The stock traded as high as $20.67 and last traded at $20.53. 4,638,715 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 21,229,799 shares. The stock had previously closed at $20.38.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOLD. CIBC raised their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. Jefferies Financial Group lifted their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Royal Bank of Canada boosted their target price on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Scotiabank boosted their target price 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.30.

Barrick Gold Trading Down 1.3 %

The company has a current ratio of 3.01, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $35.27 billion, a P/E ratio of 25.04, a P/E/G ratio of 0.49 and a beta of 0.55. The stock has a 50 day moving average of $19.20 and a 200-day moving average of $17.65.

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

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.99%. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.

Institutional Trading of Barrick Gold

Several hedge funds have recently modified their holdings of GOLD. DCF Advisers LLC raised its holdings in Barrick Gold by 48.3% during the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after buying an additional 35,000 shares during the period. 1832 Asset Management L.P. raised its holdings in Barrick Gold by 19.2% during the 4th quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock valued at $19,026,000 after buying an additional 169,350 shares during the period. Corient Private Wealth LLC raised its holdings in 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 valued at $2,237,000 after buying an additional 1,066 shares during the period. First Hawaiian Bank purchased a new stake in Barrick Gold during the 1st quarter valued at $235,000. Finally, RFG Advisory LLC raised its holdings in Barrick Gold by 87.0% during the 1st quarter. RFG Advisory LLC now owns 41,002 shares of the gold and copper producer’s stock valued at $682,000 after buying an additional 19,077 shares during the period. 62.85% of the stock is owned by hedge funds and other institutional investors.

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.