Barrick Gold (NYSE:GOLD) Trading Up 1.9%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price shot up 1.9% on Tuesday . The stock traded as high as $20.52 and last traded at $20.27. 6,419,053 shares were traded during trading, a decline of 70% from the average session volume of 21,283,076 shares. The stock had previously closed at $19.89.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada upped their price target on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, August 29th. CIBC raised their price objective 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. Scotiabank lifted their price target on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group upped their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and an average price target of $23.60.

Barrick Gold Stock Performance

The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The stock has a market cap of $35.63 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 0.49 and a beta of 0.55. The stock’s 50 day moving average is $19.41 and its two-hundred day moving average is $17.84.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. Analysts anticipate that Barrick Gold Corp will post 1.25 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.97%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Institutional Investors Weigh In On Barrick Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clean Yield Group purchased a new position in Barrick Gold during the 1st quarter valued at about $25,000. Crewe Advisors LLC lifted its position in Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after buying an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Barrick Gold during the 2nd quarter valued at $32,000. LRI Investments LLC acquired a new position in shares of Barrick Gold in the first quarter worth $37,000. Finally, City State Bank raised its holdings in shares of Barrick Gold by 338.6% during the second quarter. City State Bank now owns 2,500 shares of the gold and copper producer’s stock worth $42,000 after acquiring an additional 1,930 shares in the last quarter. Institutional investors 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.