Barrick Gold (NYSE:GOLD) Stock Price Down 1.8%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) traded down 1.8% during trading on Monday . The stock traded as low as $19.70 and last traded at $19.86. 4,873,985 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 21,288,141 shares. The stock had previously closed at $20.23.

Analyst Ratings Changes

A number of research firms recently weighed in on GOLD. 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 note on Thursday, August 29th. Royal Bank of Canada raised their price target on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Raymond James decreased their target price on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Jefferies Financial Group lifted their price objective on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Scotiabank lifted their price objective on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Barrick Gold currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Barrick Gold Trading Up 2.1 %

The firm has a market cap of $35.58 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 0.49 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The stock has a fifty day simple moving average of $19.45 and a 200 day simple moving average of $17.88.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued 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 company 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 firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, research analysts expect that Barrick Gold Corp will post 1.25 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.97%. Barrick Gold’s dividend payout ratio is presently 48.78%.

Hedge Funds Weigh In On Barrick Gold

Hedge funds have recently made changes to their positions in the company. Heritage Wealth Management Inc. purchased a new position in Barrick Gold in the 2nd quarter worth approximately $236,000. Sanctuary Advisors LLC purchased a new position in Barrick Gold in the second quarter valued at $934,000. New Wave Wealth Advisors LLC acquired a new position in Barrick Gold in the second quarter valued at $219,000. Granite Bay Wealth Management LLC acquired a new stake in shares of Barrick Gold during the second quarter worth about $348,000. Finally, Truist Financial Corp raised its holdings in Barrick Gold by 27.8% during the second quarter. Truist Financial Corp now owns 95,794 shares of the gold and copper producer’s stock worth $1,598,000 after purchasing an additional 20,842 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.

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.