Barrick Gold (NYSE:GOLD) Hits New 1-Year High at $20.95

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $20.95 and last traded at $20.94, with a volume of 854565 shares traded. The stock had previously closed at $20.58.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Jefferies Financial Group raised their price objective 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. Scotiabank upped their price objective on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Royal Bank of Canada lifted their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday. CIBC upped their price objective 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. Finally, Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and an average target price of $23.20.

Barrick Gold Stock Performance

The company has a 50-day simple moving average of $18.88 and a two-hundred day simple moving average of $17.39. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.01. The firm has a market capitalization of $36.65 billion, a P/E ratio of 25.12, a PEG ratio of 0.49 and a beta of 0.55.

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 the consensus estimate of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the business earned $0.19 EPS. Barrick Gold’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts forecast that Barrick Gold Corp will post 1.22 EPS for the current year.

Barrick Gold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.91%. Barrick Gold’s dividend payout ratio is currently 48.78%.

Institutional Investors Weigh In On Barrick Gold

Several hedge funds and other institutional investors have recently made changes to their positions in GOLD. Clean Yield Group bought a new position in Barrick Gold in the 1st quarter worth $25,000. Principal Securities Inc. purchased a new position in shares of Barrick Gold in the fourth quarter worth $26,000. Crewe Advisors LLC boosted its position in shares of Barrick Gold by 628.8% during the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after acquiring an additional 1,572 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Barrick Gold by 175.6% during 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 acquiring an additional 1,143 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. bought a new stake in Barrick Gold in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors 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.