Barrick Gold (NYSE:GOLD) Stock Price Up 0.5% – Time to Buy?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) was up 0.5% during mid-day trading on Friday . The stock traded as high as $19.98 and last traded at $19.94. Approximately 4,490,437 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 21,226,234 shares. The stock had previously closed at $19.85.

Analyst Upgrades and Downgrades

Several brokerages have commented on GOLD. Scotiabank raised their target price 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. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, August 29th. 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 research note on Wednesday, July 10th. Raymond James lowered their price objective on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Finally, Jefferies Financial Group increased their target price on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. One research 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’s stock. According to MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

Barrick Gold Price Performance

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 business’s 50-day simple moving average is $19.52 and its 200-day simple moving average is $17.91. The stock has a market cap of $35.21 billion, a PE ratio of 24.41, a PEG 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 earnings per share for the quarter, topping 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 business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the business posted $0.19 EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Barrick Gold Corp will post 1.25 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently disclosed 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 1.99%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is currently 48.78%.

Institutional Trading of Barrick Gold

Several large investors have recently bought and sold shares of GOLD. Edge Wealth Management LLC increased its stake in shares of Barrick Gold by 6.3% in the 1st quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock worth $204,000 after acquiring an additional 725 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Barrick Gold by 1.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 38,999 shares of the gold and copper producer’s stock valued at $650,000 after purchasing an additional 731 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Barrick Gold by 3.5% during the first quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock valued at $418,000 after purchasing an additional 838 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in shares of Barrick Gold by 2.4% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock valued at $608,000 after purchasing an additional 850 shares during the last quarter. Finally, Bangor Savings Bank boosted its position in shares of Barrick Gold by 4.4% in the 2nd quarter. Bangor Savings Bank now owns 21,445 shares of the gold and copper producer’s stock worth $358,000 after purchasing an additional 904 shares in the last quarter. 62.85% of the stock is owned by 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.