Barrick Gold Corp (NYSE:GOLD) Receives $23.67 Consensus Price Target from Analysts

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $23.67.

Several research analysts have weighed in on GOLD shares. Royal Bank of Canada increased 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. Scotiabank lifted their price target on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Raymond James reduced their price target 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. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, August 29th. Finally, Jefferies Financial Group boosted their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th.

Barrick Gold Stock Down 0.4 %

Shares of GOLD stock opened at $19.99 on Friday. Barrick Gold has a 52-week low of $13.76 and a 52-week high of $21.21. 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 stock has a market cap of $35.04 billion, a price-to-earnings ratio of 24.38, a PEG ratio of 0.47 and a beta of 0.55. The firm’s 50-day moving average is $19.74 and its 200-day moving average is $18.12.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released 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. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts predict that Barrick Gold will post 1.27 EPS for the current year.

Barrick Gold Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is presently 48.78%.

Institutional Trading of Barrick Gold

Several large investors have recently made changes to their positions in the company. Clean Yield Group bought a new stake in shares of Barrick Gold during the first quarter worth $25,000. Exchange Traded Concepts LLC grew its position in Barrick Gold by 198.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after acquiring an additional 935 shares during the last quarter. Crewe Advisors LLC increased its holdings in 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 purchasing an additional 1,572 shares in the last quarter. Jackson Grant Investment Advisers Inc. bought a new position in Barrick Gold in the second quarter valued at about $32,000. Finally, LRI Investments LLC acquired a new stake in shares of Barrick Gold during the first quarter valued at about $37,000. Institutional investors and hedge funds 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.