Barrick Gold Corp (NYSE:GOLD) Receives $23.50 Consensus PT from Analysts

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $23.90.

Several equities research analysts have commented on the stock. 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. Raymond James reduced their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. UBS Group lowered shares of 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 note on Wednesday, October 30th. Scotiabank dropped their price target on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group upped their price objective on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th.

Institutional Trading of Barrick Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Moors & Cabot Inc. grew its position in shares of Barrick Gold by 0.9% in the 3rd quarter. Moors & Cabot Inc. now owns 64,085 shares of the gold and copper producer’s stock valued at $1,275,000 after purchasing an additional 579 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Barrick Gold by 2.0% in the third quarter. Advisors Asset Management Inc. now owns 57,896 shares of the gold and copper producer’s stock valued at $1,152,000 after buying an additional 1,159 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Barrick Gold by 221.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,027,811 shares of the gold and copper producer’s stock worth $199,427,000 after acquiring an additional 6,904,934 shares during the last quarter. PCJ Investment Counsel Ltd. bought a new stake in Barrick Gold in the 3rd quarter valued at $2,450,000. Finally, Gemsstock Ltd. grew its stake in Barrick Gold by 69.1% in the 3rd quarter. Gemsstock Ltd. now owns 1,269,600 shares of the gold and copper producer’s stock valued at $25,252,000 after buying an additional 518,900 shares during the last quarter. Institutional investors own 62.85% of the company’s stock.

Barrick Gold Trading Down 5.4 %

Shares of NYSE GOLD opened at $17.40 on Tuesday. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15. The company has a market cap of $30.42 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56. Barrick Gold has a 12-month low of $13.76 and a 12-month high of $21.35. The stock’s 50 day simple moving average is $19.95 and its 200 day simple moving average is $18.49.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 5.85% and a net margin of 13.19%. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities research analysts expect that Barrick Gold will post 1.29 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 43.01%.

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.