Barrick Gold Corp (NYSE:GOLD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has earned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $23.30.

A number of analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. CIBC raised their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Scotiabank upped their target price on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, August 29th. Finally, Jefferies Financial Group increased their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday.

Institutional Trading of Barrick Gold

A number of hedge funds have recently made changes to their positions in GOLD. Principal Securities Inc. acquired a new stake in Barrick Gold during the 4th quarter worth approximately $26,000. Clean Yield Group acquired a new position in shares of Barrick Gold during the first quarter worth $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after purchasing an additional 1,143 shares during the last quarter. Crewe Advisors LLC increased its holdings in Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 1,572 shares during the period. Finally, Jackson Grant Investment Advisers Inc. acquired a new position in Barrick Gold during the 2nd quarter worth about $32,000. 62.85% of the stock is owned by institutional investors and hedge funds.

Barrick Gold Price Performance

Barrick Gold stock opened at $20.84 on Monday. The company has a market capitalization of $36.53 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 0.49 and a beta of 0.55. The company has a current ratio of 3.01, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. Barrick Gold has a 12 month low of $13.76 and a 12 month high of $21.13. The stock’s 50 day moving average is $18.95 and its 200-day moving average is $17.47.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS. Equities research analysts expect that Barrick Gold will post 1.22 EPS for the current year.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given 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 1.92%. Barrick Gold’s dividend payout ratio is currently 48.78%.

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.