Barrick Gold (NYSE:GOLD) Shares Up 4.1%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price shot up 4.1% on Thursday . The company traded as high as $17.36 and last traded at $17.30. 18,999,838 shares were traded during mid-day trading, a decline of 1% from the average session volume of 19,117,142 shares. The stock had previously closed at $16.62.

Analyst Ratings Changes

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

Barrick Gold Stock Performance

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 company has a market cap of $30.37 billion, a P/E ratio of 21.10, a P/E/G ratio of 0.47 and a beta of 0.51. The business has a fifty day moving average of $16.86 and a 200 day moving average of $16.47.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 earnings per share. On average, equities analysts predict that Barrick Gold Corp will post 1.08 EPS for the current year.

Barrick Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio is currently 48.78%.

Hedge Funds Weigh In On Barrick Gold

A number of institutional investors have recently added to or reduced their stakes in GOLD. Wellington Management Group LLP grew its stake in shares of Barrick Gold by 58.4% in the fourth quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock worth $1,821,963,000 after acquiring an additional 37,128,653 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Barrick Gold by 31.6% in the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock worth $978,766,000 after acquiring an additional 14,138,639 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Barrick Gold by 9.7% in the fourth quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $1,464,070,000 after acquiring an additional 7,150,142 shares during the last quarter. Capital World Investors grew its stake in shares of Barrick Gold by 16.4% in the fourth quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock worth $821,790,000 after acquiring an additional 6,417,244 shares during the last quarter. Finally, Ruffer LLP grew its stake in shares of Barrick Gold by 198.3% in the fourth quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock worth $173,727,000 after acquiring an additional 6,385,566 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Company Profile

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.