Barrick Gold (NYSE:GOLD) Trading 1.5% Higher

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) shot up 1.5% on Thursday . The company traded as high as $21.09 and last traded at $21.02. 6,675,629 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 21,266,635 shares. The stock had previously closed at $20.70.

Analyst Upgrades and Downgrades

GOLD has been the topic of several recent analyst reports. Raymond James decreased their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday. Scotiabank upped their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Jefferies Financial Group raised their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Finally, Royal Bank of Canada increased their price target on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

Barrick Gold Stock Up 2.1 %

The stock has a market cap of $37.05 billion, a P/E ratio of 25.84, a P/E/G ratio of 0.49 and a beta of 0.55. The company’s 50 day moving average price is $19.30 and its two-hundred day moving average price is $17.74. 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 issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping 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 revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 EPS. As a group, research analysts expect that Barrick Gold Corp will post 1.25 earnings per share for the current year.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.

Institutional Investors Weigh In On Barrick Gold

Several hedge funds have recently modified their holdings of the business. Clean Yield Group bought a new position in Barrick Gold in the first quarter worth approximately $25,000. Principal Securities Inc. purchased a new stake in shares of Barrick Gold during the 4th quarter worth $26,000. Crewe Advisors LLC boosted its position 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 valued at $30,000 after purchasing an additional 1,572 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Barrick Gold during the second quarter valued at about $32,000. Hedge funds and other 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.