Barrick Gold (NYSE:GOLD) Trading 0.2% Higher – What’s Next?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price was up 0.2% during trading on Tuesday . The company traded as high as $19.07 and last traded at $18.94. Approximately 3,580,823 shares were traded during trading, a decline of 83% from the average daily volume of 21,072,063 shares. The stock had previously closed at $18.90.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GOLD shares. 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. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $22.00 in a research note on Wednesday, October 30th. Scotiabank increased their price target on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. CIBC upped their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Barrick Gold presently has an average rating of “Moderate Buy” and an average price target of $23.50.

Barrick Gold Stock Up 0.2 %

The business’s 50-day simple moving average is $20.02 and its 200-day simple moving average is $18.44. The company has a market capitalization of $32.29 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 0.45 and a beta of 0.56. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (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 the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. As a group, equities research analysts anticipate that Barrick Gold Corp will post 1.29 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 46.51%.

Institutional Investors Weigh In On Barrick Gold

Institutional investors have recently modified their holdings of the business. Norden Group LLC grew its position in shares of Barrick Gold by 55.2% in the first quarter. Norden Group LLC now owns 25,971 shares of the gold and copper producer’s stock valued at $432,000 after purchasing an additional 9,240 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Barrick Gold by 9.5% in the first quarter. Sequoia Financial Advisors LLC now owns 13,798 shares of the gold and copper producer’s stock worth $230,000 after acquiring an additional 1,196 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Barrick Gold by 24.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 135,618 shares of the gold and copper producer’s stock valued at $2,257,000 after purchasing an additional 26,752 shares during the last quarter. Duality Advisers LP lifted its holdings in Barrick Gold by 326.1% in the 1st quarter. Duality Advisers LP now owns 208,096 shares of the gold and copper producer’s stock valued at $3,463,000 after purchasing an additional 159,261 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in Barrick Gold by 82.7% during the 1st quarter. Quantbot Technologies LP now owns 195,013 shares of the gold and copper producer’s stock worth $3,245,000 after purchasing an additional 88,260 shares during the last quarter. 62.85% of the stock is currently 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.