Barrick Gold (NYSE:GOLD) Trading Up 1.9%

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) rose 1.9% during trading on Tuesday . The stock traded as high as $20.52 and last traded at $20.27. Approximately 6,419,053 shares were traded during trading, a decline of 70% from the average daily volume of 21,283,076 shares. The stock had previously closed at $19.89.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. CIBC upped their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank increased their price objective 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. 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 report on Tuesday, September 10th. Raymond James cut their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Finally, Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, August 29th. One investment 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. According to MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Barrick Gold Stock Performance

The stock has a fifty day moving average of $19.41 and a 200-day moving average of $17.84. The firm has a market capitalization of $35.63 billion, a P/E ratio of 24.72, a P/E/G ratio of 0.49 and a beta of 0.55. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15.

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

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

Institutional Investors Weigh In On Barrick Gold

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