Barrick Gold (NYSE:GOLD) Trading Down 0.3%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price was down 0.3% during trading on Tuesday . The company traded as low as $16.50 and last traded at $16.67. Approximately 2,259,185 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 21,988,518 shares. The stock had previously closed at $16.72.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GOLD shares. Jefferies Financial Group started coverage on Barrick Gold in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 price objective on the stock. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 price objective on shares of Barrick Gold in a report on Monday, March 4th. Finally, BMO Capital Markets dropped their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Barrick Gold has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Stock Up 1.3 %

The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The stock has a market cap of $29.51 billion, a P/E ratio of 20.50, a PEG ratio of 0.47 and a beta of 0.59. The business has a 50-day simple moving average of $16.85 and a 200-day simple moving average of $16.48.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the business earned $0.14 earnings per share. Barrick Gold’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts expect that Barrick Gold Corp will post 1.06 EPS for the current year.

Barrick Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.38%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, May 31st. Barrick Gold’s dividend payout ratio is currently 48.78%.

Institutional Investors Weigh In On Barrick Gold

Several hedge funds have recently modified their holdings of GOLD. Clean Yield Group bought a new stake in shares of Barrick Gold in the first quarter valued at approximately $25,000. Principal Securities Inc. acquired a new position in shares of Barrick Gold in the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC raised its stake in shares of Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after purchasing an additional 1,143 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Barrick Gold in the fourth quarter valued at $35,000. Finally, LRI Investments LLC acquired a new position in shares of Barrick Gold in the first quarter valued at $37,000. 62.85% of the stock is 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.