Barrick Gold Corp (NYSE:GOLD) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $21.60.

A number of brokerages have recently issued reports on GOLD. BMO Capital Markets decreased their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th.

Barrick Gold Stock Up 0.4 %

GOLD opened at $16.62 on Wednesday. The company has a fifty day moving average of $16.84 and a two-hundred day moving average of $16.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. Barrick Gold has a fifty-two week low of $13.76 and a fifty-two week high of $18.95. The stock has a market capitalization of $29.18 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 0.47 and a beta of 0.51.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.14 EPS. Barrick Gold’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, research analysts expect that Barrick Gold will post 1.08 earnings per share for the current year.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a dividend of $0.10 per share. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 2.41%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Principal Securities Inc. purchased a new stake in shares of Barrick Gold in the 4th quarter valued at approximately $26,000. Clean Yield Group acquired a new stake in Barrick Gold during the first quarter worth $25,000. EverSource Wealth Advisors LLC raised its position in 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 during the period. Bruce G. Allen Investments LLC acquired a new position in shares of Barrick Gold in the 4th quarter valued at $35,000. Finally, LRI Investments LLC purchased a new position in shares of Barrick Gold during the 1st quarter worth $37,000. Institutional investors and hedge funds 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.