Barrick Gold (NYSE:GOLD) Shares Up 0.7%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price was up 0.7% during trading on Monday . The stock traded as high as $20.67 and last traded at $20.53. Approximately 4,638,715 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 21,229,799 shares. The stock had previously closed at $20.38.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GOLD shares. CIBC upped their price objective on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Jefferies Financial Group upped their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. 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. Royal Bank of Canada increased their price target on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Finally, Argus raised 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.30.

Barrick Gold Stock Performance

The firm has a 50-day moving average of $19.20 and a two-hundred day moving average of $17.65. The company has a quick ratio of 2.49, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $35.27 billion, a PE ratio of 25.04, a PEG ratio of 0.49 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company earned $0.19 earnings per share. Barrick Gold’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts anticipate that Barrick Gold Corp will post 1.22 EPS for the current year.

Barrick Gold Announces Dividend

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

Hedge Funds Weigh In On Barrick Gold

A number of institutional investors have recently added to or reduced their stakes in the stock. DCF Advisers LLC raised its position in Barrick Gold by 48.3% in the second quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after purchasing an additional 35,000 shares during the period. 1832 Asset Management L.P. increased its stake in Barrick Gold by 19.2% in the fourth quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock valued at $19,026,000 after purchasing an additional 169,350 shares during the last quarter. Corient Private Wealth LLC increased its stake in Barrick Gold by 0.9% in the fourth quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock valued at $2,237,000 after purchasing an additional 1,066 shares during the last quarter. First Hawaiian Bank purchased a new position in shares of Barrick Gold during the first quarter worth approximately $235,000. Finally, RFG Advisory LLC lifted its holdings in shares of Barrick Gold by 87.0% during the first quarter. RFG Advisory LLC now owns 41,002 shares of the gold and copper producer’s stock worth $682,000 after purchasing an additional 19,077 shares during the period. Hedge funds and other institutional investors 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.