Barrick Gold (NYSE:GOLD) Stock Price Up 0.2% – Here’s What Happened

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) rose 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 traded hands 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 Analysts Forecast Growth

A number of research analysts have weighed in on GOLD shares. CIBC raised 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. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Thursday, August 29th. Royal Bank of Canada increased their price target on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, September 10th. Scotiabank lifted their price objective on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group upped their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and an average target price of $23.50.

Barrick Gold Price Performance

The firm’s 50 day moving average price is $20.08 and its two-hundred day moving average price is $18.43. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. The stock has a market cap of $32.90 billion, a PE ratio of 21.98, a P/E/G ratio of 0.45 and a beta of 0.56.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. On average, research analysts expect that Barrick Gold Corp will post 1.29 earnings per share for the current year.

Barrick Gold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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 2.13%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is presently 46.51%.

Institutional Trading of Barrick Gold

Several institutional investors and hedge funds have recently bought and sold shares of GOLD. DCF Advisers LLC boosted its position in shares of Barrick Gold by 48.3% during the 2nd quarter. DCF Advisers LLC now owns 107,500 shares of the gold and copper producer’s stock valued at $1,793,000 after acquiring an additional 35,000 shares during the last quarter. Evexia Wealth LLC purchased a new position in Barrick Gold in the 3rd quarter worth approximately $2,382,000. 1832 Asset Management L.P. raised its position in shares of Barrick Gold by 3.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,089,855 shares of the gold and copper producer’s stock valued at $18,135,000 after buying an additional 38,100 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Barrick Gold during the 2nd quarter valued at $934,000. Finally, Palliser Capital UK Ltd grew its position in Barrick Gold by 54.1% in the third quarter. Palliser Capital UK Ltd now owns 346,363 shares of the gold and copper producer’s stock worth $6,889,000 after acquiring an additional 121,663 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

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.