Barrick Gold (NYSE:GOLD) Stock Price Down 0.1%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) shares traded down 0.1% on Friday . The company traded as low as $16.81 and last traded at $16.82. 2,196,020 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 21,832,387 shares. The stock had previously closed at $16.84.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $18.00 price objective on shares of Barrick Gold in a report on Monday, March 4th. BMO Capital Markets lowered their price target on shares of 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 reiterated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Finally, Jefferies Financial Group began coverage on shares of Barrick Gold in a report on Thursday, February 29th. They set a “buy” rating and a $21.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Barrick Gold has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Barrick Gold Stock Down 1.4 %

The stock’s 50-day moving average price is $16.85 and its two-hundred day moving average price is $16.48. The stock has a market capitalization of $29.16 billion, a PE ratio of 20.51, a P/E/G ratio of 0.48 and a beta of 0.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.32.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results 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. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the firm earned $0.14 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. As a group, analysts expect that Barrick Gold Corp will post 1.06 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.41%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. Barrick Gold’s dividend payout ratio is 48.78%.

Institutional Trading of Barrick Gold

Several institutional investors have recently bought and sold shares of the company. Addenda Capital Inc. lifted its stake in shares of Barrick Gold by 88.1% in the 4th quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock worth $56,176,000 after purchasing an additional 1,454,220 shares during the period. 1832 Asset Management L.P. raised its stake in Barrick Gold by 19.2% during the 4th quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock worth $19,026,000 after acquiring an additional 169,350 shares during the period. Klein Pavlis & Peasley Financial Inc. bought a new stake in Barrick Gold during the 4th quarter worth approximately $1,331,000. Corient Private Wealth LLC raised its stake in Barrick Gold by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock worth $2,237,000 after acquiring an additional 1,066 shares during the period. Finally, DAVENPORT & Co LLC raised its stake in Barrick Gold by 17.9% during the 4th quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock worth $1,332,000 after acquiring an additional 11,166 shares during the period. 62.85% of the stock is owned by hedge funds and other 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.