Barrick Gold Corp (NYSE:GOLD) Receives $23.30 Average PT from Brokerages

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $23.30.

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

Hedge Funds Weigh In On Barrick Gold

Several hedge funds have recently modified their holdings of the stock. Heritage Wealth Management Inc. acquired a new position in shares of Barrick Gold during the second quarter valued at about $236,000. Sanctuary Advisors LLC acquired a new position in Barrick Gold in the 2nd quarter worth approximately $934,000. New Wave Wealth Advisors LLC acquired a new position in Barrick Gold in the 2nd quarter worth approximately $219,000. Granite Bay Wealth Management LLC acquired a new position in Barrick Gold in the 2nd quarter worth approximately $348,000. Finally, Truist Financial Corp increased its holdings in Barrick Gold by 27.8% in the 2nd quarter. Truist Financial Corp now owns 95,794 shares of the gold and copper producer’s stock worth $1,598,000 after buying an additional 20,842 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Down 2.1 %

Barrick Gold stock opened at $20.06 on Monday. The stock has a market cap of $35.16 billion, a P/E ratio of 24.46, a PEG ratio of 0.49 and a beta of 0.55. 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 has a 1 year low of $13.76 and a 1 year high of $21.13. The firm’s 50 day moving average price is $19.12 and its 200-day moving average price is $17.57.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released 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 firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. On average, equities analysts predict that Barrick Gold will post 1.22 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

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.