Barrick Gold Corp (NYSE:GOLD) Receives $23.50 Average Target Price from Analysts

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $23.50.

Several research firms have commented on GOLD. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, August 29th. Jefferies Financial Group boosted 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. Scotiabank boosted 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. Royal Bank of Canada boosted their price target 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, UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.00 in a research report on Wednesday, October 30th.

Barrick Gold Trading Up 0.2 %

NYSE:GOLD opened at $18.47 on Tuesday. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $21.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. The stock has a market capitalization of $32.29 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 0.45 and a beta of 0.56. The business’s 50-day simple moving average is $20.02 and its 200-day simple moving average is $18.44.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating 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 business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the business posted $0.19 EPS. Barrick Gold’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts expect that Barrick Gold will post 1.29 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.17%. Barrick Gold’s payout ratio is 46.51%.

Institutional Trading of Barrick Gold

Several institutional investors and hedge funds have recently modified their holdings of the business. DCF Advisers LLC raised its position in Barrick Gold by 48.3% in the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after purchasing an additional 35,000 shares during the last quarter. Evexia Wealth LLC bought a new position in Barrick Gold in the third quarter valued at about $2,382,000. 1832 Asset Management L.P. raised its position in Barrick Gold by 3.6% in the first quarter. 1832 Asset Management L.P. now owns 1,089,855 shares of the gold and copper producer’s stock valued at $18,135,000 after purchasing an additional 38,100 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Barrick Gold in the second quarter valued at about $934,000. Finally, Palliser Capital UK Ltd raised its position in Barrick Gold by 54.1% in the third quarter. Palliser Capital UK Ltd now owns 346,363 shares of the gold and copper producer’s stock valued at $6,889,000 after purchasing an additional 121,663 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

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.