Barrick Gold (NYSE:GOLD) Trading 2.2% Higher – Here’s What Happened

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price was up 2.2% during mid-day trading on Thursday . The stock traded as high as $20.47 and last traded at $20.38. Approximately 4,191,965 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 20,989,984 shares. The stock had previously closed at $19.94.

Analysts Set New Price Targets

GOLD has been the topic of a number of recent analyst reports. Raymond James lowered their price target on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. CIBC boosted their target price on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. UBS Group raised their price target on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday. 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 report on Friday, September 13th. Finally, Scotiabank increased their price objective on shares of Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.60.

Barrick Gold Stock Up 2.9 %

The stock’s fifty day simple moving average is $20.05 and its 200-day simple moving average is $18.22. The stock has a market cap of $36.67 billion, a P/E ratio of 25.51, a P/E/G ratio of 0.47 and a beta of 0.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly 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 business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. As a group, research analysts forecast that Barrick Gold Corp will post 1.27 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s payout ratio is currently 48.78%.

Institutional Investors Weigh In On Barrick Gold

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Barrick Gold by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 63,671,495 shares of the gold and copper producer’s stock worth $1,151,817,000 after acquiring an additional 1,103,710 shares during the period. NBC Securities Inc. boosted its holdings in shares of Barrick Gold by 25.6% in the 1st quarter. NBC Securities Inc. now owns 13,008 shares of the gold and copper producer’s stock valued at $216,000 after purchasing an additional 2,655 shares in the last quarter. First Hawaiian Bank bought a new position in shares of Barrick Gold in the 1st quarter valued at $235,000. Banque Cantonale Vaudoise raised its holdings in shares of Barrick Gold by 0.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 120,166 shares of the gold and copper producer’s stock worth $2,000,000 after buying an additional 1,033 shares in the last quarter. Finally, RFG Advisory LLC lifted its position in shares of Barrick Gold by 87.0% during the 1st quarter. RFG Advisory LLC now owns 41,002 shares of the gold and copper producer’s stock worth $682,000 after buying an additional 19,077 shares during the last quarter. 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.