Barrick Gold (NYSE:GOLD) Trading 0.1% Higher

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) shot up 0.1% on Wednesday . The company traded as high as $20.48 and last traded at $20.43. 4,566,810 shares were traded during mid-day trading, a decline of 79% from the average session volume of 21,781,686 shares. The stock had previously closed at $20.41.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Scotiabank boosted their price target on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research report on Monday. Jefferies Financial Group raised their price target on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, CIBC lifted their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.67.

Barrick Gold Stock Up 1.2 %

The firm has a fifty day moving average price of $17.74 and a 200 day moving average price of $16.79. 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 firm has a market capitalization of $36.21 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 0.48 and a beta of 0.51.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 12.58% and a return on equity of 4.88%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.19 earnings per share. Sell-side analysts anticipate that Barrick Gold Corp will post 1.16 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.94%. Barrick Gold’s dividend payout ratio is currently 48.78%.

Institutional Investors Weigh In On Barrick Gold

Large investors have recently added to or reduced their stakes in the stock. Cerity Partners LLC lifted its holdings in shares of Barrick Gold by 18.4% during the fourth quarter. Cerity Partners LLC now owns 47,260 shares of the gold and copper producer’s stock worth $855,000 after purchasing an additional 7,349 shares during the period. Signaturefd LLC grew its holdings in Barrick Gold by 7.8% during the fourth quarter. Signaturefd LLC now owns 43,485 shares of the gold and copper producer’s stock worth $787,000 after buying an additional 3,155 shares in the last quarter. CWM LLC increased its stake in Barrick Gold by 8.4% in the 4th quarter. CWM LLC now owns 16,377 shares of the gold and copper producer’s stock valued at $296,000 after buying an additional 1,269 shares during the last quarter. Jennison Associates LLC grew its stake in Barrick Gold by 23.2% in the 4th quarter. Jennison Associates LLC now owns 1,811,368 shares of the gold and copper producer’s stock valued at $32,768,000 after purchasing an additional 341,354 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in Barrick Gold by 19,047.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 8,042 shares of the gold and copper producer’s stock valued at $145,000 after acquiring an additional 8,000 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

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.