Barrick Gold (NYSE:GOLD) Shares Up 1.2% – What’s Next?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) shares were up 1.2% on Thursday . The stock traded as high as $20.03 and last traded at $19.90. Approximately 3,739,101 shares traded hands during trading, a decline of 82% from the average daily volume of 21,132,826 shares. The stock had previously closed at $19.66.

Analyst Ratings Changes

A number of equities analysts have issued reports on GOLD shares. Raymond James cut their target price on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. CIBC boosted their price objective on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Scotiabank increased their target price on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Royal Bank of Canada boosted their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group increased their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus target price of $23.67.

Barrick Gold Trading Down 0.4 %

The company has a quick ratio of 2.31, a current ratio of 3.01 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $35.02 billion, a P/E ratio of 24.37, a PEG ratio of 0.47 and a beta of 0.55. The firm’s 50-day simple moving average is $19.74 and its 200 day simple moving average is $18.09.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its 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. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the firm posted $0.19 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts anticipate that Barrick Gold Corp will post 1.27 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.00%. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of Barrick Gold by 58.4% during the fourth quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock worth $1,821,963,000 after purchasing an additional 37,128,653 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of Barrick Gold by 31.6% during the 1st quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock valued at $978,766,000 after acquiring an additional 14,138,639 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in shares of Barrick Gold by 38.8% in the first quarter. EdgePoint Investment Group Inc. now owns 18,170,814 shares of the gold and copper producer’s stock worth $302,366,000 after acquiring an additional 5,080,510 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Barrick Gold by 4,713.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,144,456 shares of the gold and copper producer’s stock worth $69,141,000 after acquiring an additional 4,058,351 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. acquired a new stake in Barrick Gold during the second quarter valued at $66,820,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

About Barrick Gold

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.