Barrick Gold (NYSE:GOLD) Stock Price Up 0.8%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price was up 0.8% during trading on Wednesday . The company traded as high as $20.56 and last traded at $20.46. Approximately 3,376,948 shares traded hands during trading, a decline of 84% from the average daily volume of 21,266,502 shares. The stock had previously closed at $20.30.

Analysts Set New Price Targets

Several research firms have issued reports on GOLD. CIBC lifted their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Raymond James reduced their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. Jefferies Financial Group boosted their price target on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Scotiabank raised their price objective on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, Royal Bank of Canada upped their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

Barrick Gold Price Performance

The stock has a 50 day moving average price of $19.45 and a two-hundred day moving average price of $17.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. The firm has a market capitalization of $35.35 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 0.49 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced 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 business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 EPS. As a group, analysts expect that Barrick Gold Corp will post 1.25 EPS for the current year.

Barrick Gold Dividend Announcement

The firm 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. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.98%. Barrick Gold’s payout ratio is currently 48.78%.

Hedge Funds Weigh In On Barrick Gold

Several hedge funds have recently added to or reduced their stakes in GOLD. Clean Yield Group acquired a new position in shares of Barrick Gold in the 1st quarter valued at $25,000. Crewe Advisors LLC grew its holdings in shares of Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after purchasing an additional 1,572 shares during the last quarter. Jackson Grant Investment Advisers Inc. acquired a new stake in shares of Barrick Gold during the second quarter worth about $32,000. LRI Investments LLC purchased a new stake in shares of Barrick Gold in the 1st quarter valued at about $37,000. Finally, City State Bank boosted its position in shares of Barrick Gold by 338.6% in the 2nd quarter. City State Bank now owns 2,500 shares of the gold and copper producer’s stock valued at $42,000 after purchasing an additional 1,930 shares during the period. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

About Barrick Gold

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.