Barrick Gold (NYSE:GOLD) Trading Down 0.6%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price traded down 0.6% during mid-day trading on Tuesday . The company traded as low as $19.94 and last traded at $20.34. 4,007,778 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 21,692,176 shares. The stock had previously closed at $20.47.

Analysts Set New Price Targets

GOLD has been the subject of a number of research analyst reports. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating in a research note on Thursday. Jefferies Financial Group boosted their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Scotiabank raised their price target on Barrick Gold from $23.00 to $25.00 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, CIBC lifted their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.67.

Barrick Gold Trading Down 2.5 %

The company has a fifty day simple moving average of $18.23 and a two-hundred day simple moving average of $17.01. The stock has a market capitalization of $34.95 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 0.48 and a beta of 0.51. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $0.19 EPS. On average, sell-side analysts expect that Barrick Gold Corp will post 1.16 earnings per share for the current year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, August 30th. Barrick Gold’s dividend payout ratio is 48.78%.

Hedge Funds Weigh In On Barrick Gold

Large investors have recently modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Barrick Gold by 58.4% in the fourth quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock valued at $1,821,963,000 after buying an additional 37,128,653 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Barrick Gold by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock worth $1,077,624,000 after acquiring an additional 1,089,572 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Barrick Gold by 31.6% during the 1st quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock worth $978,766,000 after buying an additional 14,138,639 shares during the last quarter. Capital World Investors raised its holdings in Barrick Gold by 16.4% in the 4th quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock valued at $821,790,000 after acquiring an additional 6,417,244 shares during the period. Finally, EdgePoint Investment Group Inc. grew its position in shares of Barrick Gold by 3.7% in the second quarter. EdgePoint Investment Group Inc. now owns 18,837,028 shares of the gold and copper producer’s stock valued at $314,254,000 after purchasing an additional 666,214 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors and hedge funds.

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.