Barrick Gold (NYSE:GOLD) Trading Up 0.7%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) shares shot up 0.7% during trading on Wednesday . The stock traded as high as $16.80 and last traded at $16.71. 4,195,846 shares changed hands during trading, a decline of 81% from the average session volume of 21,946,676 shares. The stock had previously closed at $16.59.

Analyst Ratings Changes

Several brokerages have recently commented on GOLD. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Jefferies Financial Group assumed coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 price objective on the stock. BMO Capital Markets decreased their price objective on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 price objective on shares of Barrick Gold in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.60.

Barrick Gold Trading Up 1.0 %

The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $16.85 and its 200 day moving average price is $16.48. The company has a market capitalization of $29.41 billion, a P/E ratio of 20.40, a P/E/G ratio of 0.47 and a beta of 0.59.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The business had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the company earned $0.14 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities research analysts predict that Barrick Gold Corp will post 1.06 earnings per share for the current year.

Barrick Gold Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.39%. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Friday, May 31st. Barrick Gold’s payout ratio is presently 48.78%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOLD. Principal Securities Inc. bought a new stake in Barrick Gold during the 4th quarter worth approximately $26,000. Clean Yield Group bought a new position in shares of Barrick Gold in the 1st quarter worth $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Barrick Gold by 175.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after buying an additional 1,143 shares during the last quarter. Bruce G. Allen Investments LLC bought a new position in shares of Barrick Gold in the 4th quarter worth $35,000. Finally, LRI Investments LLC bought a new position in shares of Barrick Gold in the 1st quarter worth $37,000. 62.85% of the stock is currently 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.