Barrick Gold (NYSE:GOLD) Shares Up 1%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price rose 1% during trading on Tuesday . The stock traded as high as $20.46 and last traded at $20.41. Approximately 5,807,045 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 21,234,512 shares. The stock had previously closed at $20.21.

Wall Street Analyst Weigh In

GOLD has been the subject of several analyst reports. Royal Bank of Canada upped their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. Jefferies Financial Group increased their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. CIBC increased their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, Scotiabank increased their price target on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. 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. Based on data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average target price of $23.30.

Barrick Gold Trading Up 1.6 %

The firm has a market capitalization of $35.98 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. The stock’s 50-day moving average price is $19.24 and its 200 day moving average price is $17.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.49.

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

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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 yield of 1.95%. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.

Institutional Investors Weigh In On Barrick Gold

Several institutional investors and hedge funds have recently made changes to their positions in GOLD. Clean Yield Group purchased a new position in Barrick Gold in the first quarter valued at $25,000. Principal Securities Inc. purchased a new position in Barrick Gold in the 4th quarter valued at approximately $26,000. Crewe Advisors LLC boosted 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 valued at $30,000 after buying an additional 1,572 shares during the period. EverSource Wealth Advisors LLC boosted its position in Barrick Gold by 175.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after buying an additional 1,143 shares during the period. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Barrick Gold in the 2nd quarter valued at $32,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

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.