Barrick Gold (NYSE:GOLD) Stock Price Up 3.9%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) rose 3.9% during mid-day trading on Wednesday . The company traded as high as $17.30 and last traded at $17.26. Approximately 7,956,576 shares changed hands during trading, a decline of 63% from the average daily volume of 21,622,969 shares. The stock had previously closed at $16.62.

Wall Street Analysts Forecast Growth

GOLD has been the subject of a number of recent research reports. BMO Capital Markets lowered their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.60.

Barrick Gold Price Performance

The business’s 50 day moving average price is $16.84 and its 200 day moving average price is $16.46. The stock has a market capitalization of $30.41 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 0.47 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 announced its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the business posted $0.14 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts forecast that Barrick Gold Corp will post 1.08 EPS for the current year.

Barrick Gold Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.31%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. Barrick Gold’s payout ratio is 48.78%.

Institutional Trading of Barrick Gold

Several large investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd purchased a new position in Barrick Gold during the third quarter valued at approximately $6,892,000. Alpine Global Management LLC purchased a new position in Barrick Gold during the third quarter valued at approximately $313,000. Schonfeld Strategic Advisors LLC purchased a new position in Barrick Gold during the third quarter valued at approximately $1,542,000. Advisors Asset Management Inc. lifted its holdings in Barrick Gold by 10.1% during the third quarter. Advisors Asset Management Inc. now owns 31,990 shares of the gold and copper producer’s stock valued at $465,000 after purchasing an additional 2,927 shares in the last quarter. Finally, AXQ Capital LP purchased a new position in Barrick Gold during the third quarter valued at approximately $371,000. 62.85% of the stock is currently owned by 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.