Barrick Gold (NYSE:GOLD) Shares Down 1.8%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price dropped 1.8% during trading on Monday . The stock traded as low as $19.70 and last traded at $19.86. Approximately 4,873,985 shares changed hands during trading, a decline of 77% from the average daily volume of 21,288,141 shares. The stock had previously closed at $20.23.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOLD. Raymond James lowered their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, August 29th. CIBC raised their price target on shares of 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 increased their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, Royal Bank of Canada lifted their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.60.

Barrick Gold Stock Down 2.2 %

The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The stock has a market cap of $34.67 billion, a P/E ratio of 24.22, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. The stock’s fifty day moving average price is $19.38 and its 200 day moving average price is $17.82.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share. As a group, research analysts forecast that Barrick Gold Corp will post 1.25 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio is presently 48.78%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GOLD. Clean Yield Group bought a new position in shares of Barrick Gold during the first quarter valued at approximately $25,000. Crewe Advisors LLC grew 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 worth $30,000 after buying an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. bought a new position in Barrick Gold during the 2nd quarter valued at approximately $32,000. LRI Investments LLC bought a new stake in Barrick Gold in the first quarter worth $37,000. Finally, City State Bank grew its stake in shares of Barrick Gold by 338.6% in the second quarter. City State Bank now owns 2,500 shares of the gold and copper producer’s stock worth $42,000 after acquiring an additional 1,930 shares during the last quarter. 62.85% of the stock is owned by hedge funds and other 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.