Barrick Gold (NYSE:GOLD) Trading Down 0.1%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price fell 0.1% on Monday . The company traded as low as $20.42 and last traded at $20.47. 4,537,345 shares were traded during mid-day trading, a decline of 79% from the average session volume of 21,729,523 shares. The stock had previously closed at $20.50.

Analysts Set New Price Targets

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

Barrick Gold Price Performance

The business’s 50-day simple moving average is $18.23 and its 200-day simple moving average is $17.01. The stock has a market cap of $34.95 billion, a PE ratio of 24.32, a PEG ratio of 0.48 and a beta of 0.51. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the company earned $0.19 earnings per share. Barrick Gold’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts expect that Barrick Gold Corp will post 1.16 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 2.01%. Barrick Gold’s payout ratio is presently 48.78%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. CWM LLC increased its stake in shares of Barrick Gold by 8.4% in the fourth quarter. CWM LLC now owns 16,377 shares of the gold and copper producer’s stock worth $296,000 after purchasing an additional 1,269 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in Barrick Gold by 7.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 26,241 shares of the gold and copper producer’s stock valued at $475,000 after acquiring an additional 1,833 shares in the last quarter. WealthTrust Axiom LLC lifted its position in Barrick Gold by 17.5% during the fourth quarter. WealthTrust Axiom LLC now owns 22,935 shares of the gold and copper producer’s stock valued at $415,000 after purchasing an additional 3,410 shares during the last quarter. Pekin Hardy Strauss Inc. lifted its position in Barrick Gold by 23.3% during the fourth quarter. Pekin Hardy Strauss Inc. now owns 101,413 shares of the gold and copper producer’s stock valued at $1,835,000 after purchasing an additional 19,163 shares during the last quarter. Finally, Great Valley Advisor Group Inc. lifted its position in Barrick Gold by 7.1% during the fourth quarter. Great Valley Advisor Group Inc. now owns 84,178 shares of the gold and copper producer’s stock valued at $1,523,000 after purchasing an additional 5,607 shares during the last quarter. 62.85% of the stock is currently owned by 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.