Barrick Gold (NYSE:GOLD) Stock Price Up 3.9%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) traded up 3.9% on Wednesday . The company traded as high as $17.30 and last traded at $17.26. 7,956,576 shares changed hands during trading, a decline of 63% from the average session volume of 21,622,969 shares. The stock had previously closed at $16.62.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GOLD. BMO Capital Markets lowered their price target on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32. The stock’s fifty day moving average is $16.84 and its two-hundred day moving average is $16.46. The firm has a market cap of $30.41 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 0.47 and a beta of 0.51.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. On average, analysts expect that Barrick Gold Corp will post 1.08 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a dividend of $0.10 per share. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. This represents a $0.40 annualized dividend and a yield of 2.31%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Hedge Funds Weigh In On Barrick Gold

Several large investors have recently made changes to their positions in the business. Creative Financial Designs Inc. ADV lifted its position in shares of Barrick Gold by 7.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 9,100 shares of the gold and copper producer’s stock worth $165,000 after purchasing an additional 600 shares in the last quarter. A. D. Beadell Investment Counsel Inc. raised its position in Barrick Gold by 1.2% during the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 59,825 shares of the gold and copper producer’s stock valued at $1,082,000 after acquiring an additional 700 shares in the last quarter. Global Retirement Partners LLC raised its position in Barrick Gold by 15.3% during the first quarter. Global Retirement Partners LLC now owns 5,434 shares of the gold and copper producer’s stock valued at $90,000 after acquiring an additional 721 shares in the last quarter. Edge Wealth Management LLC raised its position in Barrick Gold by 6.3% during the first quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after acquiring an additional 725 shares in the last quarter. Finally, Greenleaf Trust raised its position in 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 acquiring an additional 838 shares in the last quarter. 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.