Barrick Gold (NYSE:GOLD) Trading 4.2% Higher

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) traded up 4.2% during trading on Thursday . The stock traded as high as $20.64 and last traded at $20.59. 7,078,326 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 21,328,266 shares. The stock had previously closed at $19.76.

Analyst Upgrades and Downgrades

GOLD has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday. Jefferies Financial Group lifted their target price on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Friday. CIBC lifted their target price on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Argus raised Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, August 29th. Finally, Scotiabank lifted their target price on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.30.

Barrick Gold Trading Up 1.3 %

The company has a 50 day moving average of $18.95 and a two-hundred day moving average of $17.43. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.49 and a current ratio of 3.01. The stock has a market capitalization of $36.53 billion, a PE ratio of 25.40, a P/E/G ratio of 0.49 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the business earned $0.19 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that Barrick Gold Corp will post 1.22 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, August 30th. Barrick Gold’s dividend payout ratio is presently 48.78%.

Institutional Trading of Barrick Gold

Large investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. acquired a new stake in shares of Barrick Gold during the 4th quarter worth about $26,000. Clean Yield Group acquired a new position in Barrick Gold during the first quarter worth $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of Barrick Gold by 175.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after acquiring an additional 1,143 shares during the last quarter. Crewe Advisors LLC raised its holdings in shares of Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock worth $30,000 after acquiring an additional 1,572 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Barrick Gold in the second quarter valued at $32,000. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

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.