Barrick Gold (NYSE:GOLD) Shares Down 2.4%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price traded down 2.4% during trading on Wednesday . The company traded as low as $19.89 and last traded at $19.96. 4,261,890 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 21,656,365 shares. The stock had previously closed at $20.45.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOLD shares. Scotiabank boosted 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. CIBC increased their price target on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group lifted their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. One investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.67.

Barrick Gold Stock Performance

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 company has a market capitalization of $34.93 billion, a PE ratio of 24.34, a PEG ratio of 0.48 and a beta of 0.51. The firm’s 50-day simple moving average is $18.08 and its 200-day simple moving average is $16.95.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Barrick Gold’s revenue was up 11.6% compared to the same quarter last year. On average, research analysts predict that Barrick Gold Corp will post 1.16 earnings per share for the current year.

Barrick Gold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

Hedge Funds Weigh In On Barrick Gold

Several institutional investors have recently bought and sold shares of the business. 1832 Asset Management L.P. raised its holdings in Barrick Gold by 19.2% in the fourth quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock worth $19,026,000 after purchasing an additional 169,350 shares in the last quarter. Corient Private Wealth LLC lifted its position in Barrick Gold by 0.9% during the fourth quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock valued at $2,237,000 after acquiring an additional 1,066 shares during the last quarter. First Hawaiian Bank acquired a new stake in Barrick Gold in the first quarter valued at approximately $235,000. RFG Advisory LLC grew its holdings in Barrick Gold by 87.0% in the first quarter. RFG Advisory LLC now owns 41,002 shares of the gold and copper producer’s stock worth $682,000 after purchasing an additional 19,077 shares during the last quarter. Finally, Financial Sense Advisors Inc. increased its position in shares of Barrick Gold by 142.1% during the first quarter. Financial Sense Advisors Inc. now owns 826,507 shares of the gold and copper producer’s stock worth $13,753,000 after purchasing an additional 485,077 shares in the last quarter. 62.85% of the stock is owned by hedge funds and other 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.