Barrick Gold Corp (NYSE:GOLD) Short Interest Down 5.9% in September

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 15,847,500 shares, a decrease of 5.9% from the August 31st total of 16,833,200 shares. Based on an average daily volume of 19,727,300 shares, the short-interest ratio is presently 0.8 days. Approximately 0.9% of the company’s stock are short sold.

Barrick Gold Stock Performance

Shares of NYSE:GOLD traded down $0.37 during midday trading on Monday, reaching $19.86. 6,058,418 shares of the company traded hands, compared to its average volume of 21,294,441. Barrick Gold has a 12 month low of $13.76 and a 12 month high of $21.21. The firm’s fifty day moving average price is $19.38 and its two-hundred day moving average price is $17.82. The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $34.81 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55.

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

Barrick Gold Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.01%. Barrick Gold’s payout ratio is currently 48.78%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Raymond James dropped their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday. Jefferies Financial Group boosted their price target 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. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. Scotiabank boosted their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Finally, Royal Bank of Canada lifted their price target 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Institutional Investors Weigh In On Barrick Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Heritage Wealth Management Inc. purchased a new stake in Barrick Gold in the second quarter valued at approximately $236,000. Sanctuary Advisors LLC bought a new stake in shares of Barrick Gold during the 2nd quarter worth $934,000. New Wave Wealth Advisors LLC purchased a new position in Barrick Gold in the second quarter worth $219,000. Granite Bay Wealth Management LLC bought a new position in Barrick Gold in the second quarter valued at $348,000. Finally, Truist Financial Corp raised its position in 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 valued at $1,598,000 after purchasing an additional 20,842 shares in the last quarter. Hedge funds and other 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.