Barrick Gold (NYSE:GOLD) Stock Price Down 2.2%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) shares fell 2.2% during trading on Thursday . The stock traded as low as $19.68 and last traded at $19.74. 5,322,607 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 21,239,771 shares. The stock had previously closed at $20.18.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOLD. Jefferies Financial Group raised their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Raymond James reduced their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Royal Bank of Canada raised 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. Scotiabank lifted their price target on shares of 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, Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.60.

Barrick Gold Stock Performance

The business’s fifty day simple moving average is $19.48 and its 200-day simple moving average is $17.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The company has a market capitalization of $34.65 billion, a P/E ratio of 24.07, a P/E/G ratio of 0.49 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued 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 company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. As a group, equities analysts anticipate that Barrick Gold Corp will post 1.25 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Clean Yield Group acquired a new position in Barrick Gold during the 1st quarter valued at approximately $25,000. Crewe Advisors LLC boosted its holdings in 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 buying an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. acquired a new position in Barrick Gold during the second quarter worth $32,000. LRI Investments LLC purchased a new stake in shares of Barrick Gold during the first quarter worth approximately $37,000. Finally, City State Bank grew its holdings in shares of Barrick Gold by 338.6% during the second quarter. City State Bank now owns 2,500 shares of the gold and copper producer’s stock worth $42,000 after buying an additional 1,930 shares in the last quarter. Institutional investors own 62.85% of the company’s stock.

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.