Barrick Gold (NYSE:GOLD) Given New $25.00 Price Target at Scotiabank

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price target boosted by Scotiabank from $23.00 to $25.00 in a research note released on Monday, Benzinga reports. Scotiabank currently has a sector outperform rating on the gold and copper producer’s stock.

A number of other equities research analysts have also recently issued reports on GOLD. CIBC lifted their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an outperformer rating in a research note on Wednesday, July 10th. Jefferies Financial Group lifted their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the company a buy rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $22.67.

Barrick Gold Trading Down 1.9 %

GOLD stock opened at $20.23 on Monday. Barrick Gold has a 52-week low of $13.76 and a 52-week high of $20.89. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The firm has a market cap of $35.46 billion, a P/E ratio of 24.67, a PEG ratio of 0.48 and a beta of 0.51. The company’s 50-day simple moving average is $17.91 and its 200-day simple moving average is $16.84.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly 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. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. Barrick Gold’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.19 earnings per share. As a group, equities analysts forecast that Barrick Gold will post 1.16 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, August 30th. This represents a $0.40 annualized dividend and a yield of 1.98%. Barrick Gold’s dividend payout ratio is presently 48.78%.

Institutional Inflows and Outflows

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