Barrick Gold (NYSE:GOLD) Stock Price Up 1.6%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price shot up 1.6% during trading on Friday . The stock traded as high as $20.64 and last traded at $20.57. 5,156,645 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 21,758,666 shares. The stock had previously closed at $20.24.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOLD. CIBC increased their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank increased 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. Finally, Jefferies Financial Group increased their price target on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.67.

Barrick Gold Stock Up 1.3 %

The firm has a 50 day simple moving average of $18.00 and a two-hundred day simple moving average of $16.89. 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 capitalization of $35.93 billion, a P/E ratio of 25.00, a PEG ratio of 0.48 and a beta of 0.51.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the company earned $0.19 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Barrick Gold Corp will post 1.16 earnings per share for the current year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Clean Yield Group bought a new position in shares of Barrick Gold in the 1st quarter valued at $25,000. Principal Securities Inc. bought a new position in shares of Barrick Gold in the 4th quarter valued at $26,000. Crewe Advisors LLC lifted its stake in shares of 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 acquiring an additional 1,572 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of 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 acquiring an additional 1,143 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. bought a new position in Barrick Gold during the 2nd quarter worth $32,000. 62.85% of the stock is currently owned by institutional investors.

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.