Barrick Gold Corp (NYSE:GOLD) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $23.30.

A number of brokerages have weighed in on GOLD. 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 report on Thursday, August 29th. Scotiabank lifted their target price on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Jefferies Financial Group upped their price target on Barrick Gold from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. CIBC lifted their price objective on Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada increased their target price on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th.

Barrick Gold Stock Up 0.7 %

GOLD stock opened at $20.38 on Monday. Barrick Gold has a one year low of $13.76 and a one year high of $21.13. The company has a 50 day moving average price of $19.20 and a two-hundred day moving average price of $17.65. 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 $35.72 billion, a P/E ratio of 24.85, a PEG ratio of 0.49 and a beta of 0.55.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, topping 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 firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the business posted $0.19 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that Barrick Gold will post 1.22 EPS for the current year.

Barrick Gold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.96%. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.

Institutional Investors Weigh In On Barrick Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of Barrick Gold during the fourth quarter worth about $26,000. Dimensional Fund Advisors LP raised its position in shares of Barrick Gold by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,359,933 shares of the gold and copper producer’s stock valued at $115,051,000 after purchasing an additional 211,928 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in shares of Barrick Gold by 21.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 72,977 shares of the gold and copper producer’s stock valued at $1,320,000 after buying an additional 12,860 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Barrick Gold by 31.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 34,633 shares of the gold and copper producer’s stock worth $627,000 after buying an additional 8,276 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its stake in shares of Barrick Gold by 10.8% in the fourth quarter. Beacon Pointe Advisors LLC now owns 36,505 shares of the gold and copper producer’s stock worth $660,000 after buying an additional 3,570 shares during the last quarter. Hedge funds and other institutional investors own 62.85% of the company’s stock.

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.