Barrick Gold (NYSE:GOLD) Shares Gap Down to $17.37

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) gapped down prior to trading on Tuesday . The stock had previously closed at $17.37, but opened at $16.79. Barrick Gold shares last traded at $16.35, with a volume of 9,937,563 shares.

Analyst Upgrades and Downgrades

Several brokerages have commented on GOLD. Argus restated a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. Raymond James lowered their target price on Barrick Gold from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 price target on shares of Barrick Gold in a research note on Monday, March 4th. BMO Capital Markets lowered their price objective on Barrick Gold from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Finally, TD Securities dropped their target price on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Barrick Gold presently has an average rating of “Moderate Buy” and an average price target of $22.05.

Barrick Gold Trading Up 1.3 %

The stock has a fifty day simple moving average of $15.82 and a 200 day simple moving average of $16.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.40 and a current ratio of 3.16. The firm has a market cap of $29.32 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 1.58 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 EPS for the quarter, topping the consensus estimate of $0.21 by $0.06. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the company earned $0.13 EPS. On average, research analysts expect that Barrick Gold Corp will post 0.91 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.074 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 annualized dividend and a dividend yield of 1.77%. Barrick Gold’s payout ratio is 55.56%.

Institutional Investors Weigh In On Barrick Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Securities Inc. bought a new position in shares of Barrick Gold during the 4th quarter valued at $26,000. Fairfield Bush & CO. purchased a new stake in Barrick Gold during the second quarter valued at $29,000. EverSource Wealth Advisors LLC lifted its holdings in 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 valued at $32,000 after acquiring an additional 1,143 shares during the period. Bruce G. Allen Investments LLC purchased a new position in Barrick Gold in the fourth quarter worth about $35,000. Finally, Resurgent Financial Advisors LLC bought a new stake in shares of Barrick Gold during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 62.85% of the company’s stock.

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.