Barrick Gold (NYSE:GOLD) Stock Price Down 3.6% – Should You Sell?

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) dropped 3.6% during mid-day trading on Thursday . The company traded as low as $19.31 and last traded at $19.32. Approximately 10,788,495 shares traded hands during trading, a decline of 49% from the average daily volume of 21,104,486 shares. The stock had previously closed at $20.05.

Analyst Ratings Changes

Several research analysts have recently issued reports on GOLD shares. CIBC increased their price target on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research note on Wednesday, July 10th. Raymond James lowered their target price on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Jefferies Financial Group upped their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note 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 research report on Thursday, August 29th. Finally, Scotiabank boosted 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Barrick Gold Stock Down 1.4 %

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 company has a market cap of $33.30 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 0.47 and a beta of 0.55. The business has a 50-day simple moving average of $20.11 and a two-hundred day simple moving average of $18.39.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating 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 company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $0.19 earnings per share. The company’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 1.29 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.10%. Barrick Gold’s dividend payout ratio is 46.51%.

Institutional Investors Weigh In On Barrick Gold

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Barrick Gold by 1.7% in the first 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 during the period. First Eagle Investment Management LLC raised its position in shares of Barrick Gold by 31.6% during the first quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock worth $978,766,000 after acquiring an additional 14,138,639 shares during the last quarter. EdgePoint Investment Group Inc. boosted 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 valued at $314,254,000 after acquiring an additional 666,214 shares during the last quarter. National Bank of Canada FI increased its position in Barrick Gold by 9.0% in the first quarter. National Bank of Canada FI now owns 14,887,656 shares of the gold and copper producer’s stock worth $251,929,000 after purchasing an additional 1,231,184 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Barrick Gold by 3.3% during the 2nd quarter. CIBC Asset Management Inc now owns 14,546,530 shares of the gold and copper producer’s stock valued at $242,491,000 after purchasing an additional 461,406 shares during the period. 62.85% of the stock is 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.