Barrick Gold (NYSE:GOLD) Shares Up 0.7%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price shot up 0.7% during mid-day trading on Monday . The company traded as high as $16.81 and last traded at $16.67. 2,934,037 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 22,050,014 shares. The stock had previously closed at $16.56.

Wall Street Analyst Weigh In

GOLD has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $18.00 target price on shares of Barrick Gold in a research report on Monday, March 4th. Jefferies Financial Group assumed coverage on Barrick Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 price objective for the company. BMO Capital Markets lowered their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, National Bank Financial reiterated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Barrick Gold Trading Up 1.3 %

The business has a 50-day moving average price of $16.85 and a 200-day moving average price of $16.48. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $29.49 billion, a P/E ratio of 20.51, a PEG ratio of 0.47 and a beta of 0.59.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS. Analysts anticipate that Barrick Gold Corp will post 1.06 earnings per share for the current year.

Barrick Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.38%. The ex-dividend date was Friday, May 31st. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio is 48.78%.

Hedge Funds Weigh In On Barrick Gold

A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in shares of Barrick Gold by 131.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,152 shares of the gold and copper producer’s stock worth $69,000 after purchasing an additional 2,358 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Barrick Gold by 4.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 146,833 shares of the gold and copper producer’s stock worth $2,405,000 after buying an additional 5,646 shares in the last quarter. Clean Yield Group bought a new position in shares of Barrick Gold in the first quarter valued at approximately $25,000. Cetera Advisors LLC boosted its holdings in shares of Barrick Gold by 103.4% in the 1st quarter. Cetera Advisors LLC now owns 45,087 shares of the gold and copper producer’s stock worth $750,000 after acquiring an additional 22,921 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Barrick Gold by 783.2% in the 1st quarter. Cetera Investment Advisers now owns 341,854 shares of the gold and copper producer’s stock worth $5,688,000 after acquiring an additional 303,148 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

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.