Barrick Gold (NYSE:GOLD) Trading Down 0.5%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) shares traded down 0.5% on Monday . The company traded as low as $16.59 and last traded at $16.60. 2,236,351 shares traded hands during trading, a decline of 90% from the average session volume of 21,764,223 shares. The stock had previously closed at $16.68.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. BMO Capital Markets cut their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. The company has a fifty day moving average of $16.84 and a two-hundred day moving average of $16.47. The firm 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 posted its 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 the consensus estimate of $2.74 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. As a group, equities research analysts predict that Barrick Gold Corp will post 1.08 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

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

Institutional Investors Weigh In On Barrick Gold

Large investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. bought a new position in Barrick Gold in the 4th quarter valued at about $26,000. Clean Yield Group acquired a new position in Barrick Gold during the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its position in Barrick Gold by 175.6% during 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 bought a new stake in Barrick Gold during the fourth quarter worth $35,000. Finally, LRI Investments LLC acquired a new stake in shares of Barrick Gold in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

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.