Barrick Gold (NYSE:GOLD) Stock Price Down 0.8% – What’s Next?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) shares traded down 0.8% during trading on Thursday . The stock traded as low as $17.86 and last traded at $18.28. Approximately 7,960,103 shares were traded during trading, a decline of 62% from the average daily volume of 21,090,602 shares. The stock had previously closed at $18.43.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOLD. Jefferies Financial Group lifted their target price on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Royal Bank of Canada lifted their price objective on Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 10th. UBS Group downgraded Barrick Gold from a “buy” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Raymond James reduced their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Finally, CIBC increased their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Barrick Gold Trading Up 0.3 %

The stock has a market capitalization of $32.30 billion, a P/E ratio of 21.44, a P/E/G ratio of 0.45 and a beta of 0.56. 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’s 50 day moving average price is $20.02 and its 200-day moving average price is $18.44.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. As a group, equities research analysts expect that Barrick Gold Corp will post 1.29 earnings per share for the current year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, August 30th. Barrick Gold’s dividend payout ratio (DPR) is presently 46.51%.

Institutional Trading of Barrick Gold

Institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC raised its holdings in shares of Barrick Gold by 198.1% in the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after buying an additional 935 shares during the last quarter. Clean Yield Group purchased a new position in Barrick Gold in the 1st quarter worth $25,000. Eastern Bank acquired a new stake in Barrick Gold during the 3rd quarter worth about $32,000. Crewe Advisors LLC grew its stake in Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after purchasing an additional 1,572 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Barrick Gold by 451.7% in the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares during the period. 62.85% of the stock is currently 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.