Barrick Gold Corp (NYSE:GOLD) Given Consensus Rating of “Moderate Buy” by Analysts

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $23.30.

Several equities research analysts have issued reports on GOLD shares. CIBC raised their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Royal Bank of Canada raised 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. Jefferies Financial Group raised their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Argus upgraded shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Thursday, August 29th. Finally, Scotiabank lifted their price objective on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th.

Institutional Investors Weigh In On Barrick Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in Barrick Gold by 58.4% during the 4th 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 buying an additional 37,128,653 shares during the period. Vanguard Group Inc. grew its stake in Barrick Gold by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock valued at $1,077,624,000 after acquiring an additional 1,089,572 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Barrick Gold by 31.6% in 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 buying an additional 14,138,639 shares in the last quarter. Capital World Investors increased its holdings in Barrick Gold by 16.4% in the fourth quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock worth $821,790,000 after buying an additional 6,417,244 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its holdings in Barrick Gold by 3.7% in the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock worth $314,254,000 after buying an additional 666,214 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

Barrick Gold Stock Up 0.8 %

Shares of Barrick Gold stock opened at $20.39 on Monday. The company has a market cap of $35.74 billion, a P/E ratio of 24.87, a PEG ratio of 0.49 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.01. Barrick Gold has a one year low of $13.76 and a one year high of $21.13. The firm has a fifty day moving average of $19.20 and a two-hundred day moving average of $17.62.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 EPS. On average, analysts forecast that Barrick Gold will post 1.22 earnings per share for the current year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.

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.