Barrick Gold (NYSE:GOLD) Trading 1% Higher

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price was up 1% during trading on Wednesday . The company traded as high as $20.68 and last traded at $20.64. Approximately 4,471,238 shares traded hands during trading, a decline of 79% from the average daily volume of 21,245,889 shares. The stock had previously closed at $20.43.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOLD. CIBC lifted their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. Jefferies Financial Group boosted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Royal Bank of Canada upped their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Finally, Scotiabank boosted their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and an average target price of $23.30.

Barrick Gold Stock Up 1.3 %

The firm’s 50-day simple moving average is $19.26 and its two-hundred day simple moving average is $17.71. The company has a market capitalization of $36.25 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth 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 2.31.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results 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. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 earnings per share. Sell-side analysts predict that Barrick Gold Corp will post 1.25 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

Hedge Funds Weigh In On Barrick Gold

A number of large investors have recently bought and sold shares of GOLD. DCF Advisers LLC raised its stake in shares of Barrick Gold by 48.3% in the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after acquiring an additional 35,000 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Barrick Gold by 19.2% in the 4th 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 acquiring an additional 169,350 shares during the period. Corient Private Wealth LLC grew its holdings in Barrick Gold by 0.9% during the 4th 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 in the last quarter. First Hawaiian Bank acquired a new stake in Barrick Gold during the 1st quarter valued at $235,000. Finally, RFG Advisory LLC grew its holdings in Barrick Gold by 87.0% during the 1st quarter. RFG Advisory LLC now owns 41,002 shares of the gold and copper producer’s stock valued at $682,000 after purchasing an additional 19,077 shares in the last quarter. 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.