Barrick Gold (NYSE:GOLD) Shares Up 1.6%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price rose 1.6% during trading on Friday . The stock traded as high as $20.64 and last traded at $20.57. Approximately 5,156,645 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 21,758,666 shares. The stock had previously closed at $20.24.

Wall Street Analysts Forecast Growth

GOLD has been the subject of several recent research reports. CIBC upped their price target on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank upped their price target on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group upped their price target on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.67.

Barrick Gold Stock Performance

The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average price of $18.00 and a 200-day moving average price of $16.89. The firm has a market capitalization of $35.93 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 0.48 and a beta of 0.51.

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, topping analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the firm posted $0.19 EPS. Barrick Gold’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts anticipate that Barrick Gold Corp will post 1.16 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.95%. Barrick Gold’s dividend payout ratio is 48.78%.

Institutional Investors Weigh In On Barrick Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC increased its holdings in Barrick Gold by 15.3% during the 1st quarter. Global Retirement Partners LLC now owns 5,434 shares of the gold and copper producer’s stock valued at $90,000 after purchasing an additional 721 shares in the last quarter. Edge Wealth Management LLC increased its holdings in Barrick Gold by 6.3% during the 1st quarter. Edge Wealth Management LLC now owns 12,255 shares of the gold and copper producer’s stock valued at $204,000 after purchasing an additional 725 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Barrick Gold by 1.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 38,999 shares of the gold and copper producer’s stock valued at $650,000 after purchasing an additional 731 shares in the last quarter. Greenleaf Trust increased its holdings in Barrick Gold by 3.5% during the 1st quarter. Greenleaf Trust now owns 25,119 shares of the gold and copper producer’s stock valued at $418,000 after purchasing an additional 838 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co increased its holdings in Barrick Gold by 2.4% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,519 shares of the gold and copper producer’s stock valued at $608,000 after purchasing an additional 850 shares in the last quarter. 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.