Barrick Gold (NYSE:GOLD) Shares Down 0.6%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) traded down 0.6% during mid-day trading on Tuesday . The stock traded as low as $19.94 and last traded at $20.34. 4,007,778 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 21,692,176 shares. The stock had previously closed at $20.47.

Analysts Set New Price Targets

A number of equities analysts have commented on GOLD shares. Scotiabank boosted their price objective on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. CIBC increased their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group boosted their target price on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.67.

Barrick Gold Price Performance

The company’s 50-day simple moving average is $18.08 and its 200-day simple moving average is $16.95. The stock has a market capitalization of $35.84 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 0.48 and a beta of 0.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued 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. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the firm earned $0.19 EPS. Barrick Gold’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that Barrick Gold Corp will post 1.16 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.96%. Barrick Gold’s dividend payout ratio is currently 48.78%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GOLD. Clean Yield Group bought a new position in Barrick Gold during the first quarter worth $25,000. Principal Securities Inc. bought a new stake in shares of Barrick Gold during the 4th quarter worth about $26,000. Crewe Advisors LLC grew its stake in Barrick Gold by 628.8% in the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after buying an additional 1,572 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Barrick Gold by 175.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after buying an additional 1,143 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. bought a new position in Barrick Gold in the 2nd quarter valued at about $32,000. 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.