Barrick Gold (NYSE:GOLD) Stock Price Up 1.1%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price was up 1.1% on Thursday . The company traded as high as $17.01 and last traded at $16.99. Approximately 3,375,052 shares traded hands during trading, a decline of 85% from the average daily volume of 21,899,236 shares. The stock had previously closed at $16.80.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GOLD shares. Royal Bank of Canada reissued an “outperform” rating and set a $18.00 price target on shares of Barrick Gold in a report on Monday, March 4th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. Jefferies Financial Group initiated coverage on shares of Barrick Gold in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, BMO Capital Markets cut their target price on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Stock Performance

The firm has a market capitalization of $29.71 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 0.47 and a beta of 0.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49. The stock has a 50-day moving average price of $16.85 and a 200-day moving average price of $16.48.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period last year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts expect that Barrick Gold Corp will post 1.06 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. Barrick Gold’s payout ratio is 48.78%.

Institutional Investors Weigh In On Barrick Gold

A number of institutional investors have recently added to or reduced their stakes in GOLD. Wellington Management Group LLP grew its stake in Barrick Gold by 58.4% during the 4th 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 acquiring an additional 37,128,653 shares in the last quarter. Van ECK Associates Corp grew its position in Barrick Gold by 9.7% during the fourth quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock valued at $1,464,070,000 after purchasing an additional 7,150,142 shares in the last quarter. Vanguard Group Inc. increased its stake in Barrick Gold by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock valued at $1,077,624,000 after buying an additional 1,089,572 shares during the period. First Eagle Investment Management LLC lifted its position in Barrick Gold by 31.6% in 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 in the last quarter. Finally, Capital World Investors boosted its stake in shares of Barrick Gold by 16.4% during 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 buying an additional 6,417,244 shares during the period. 62.85% of the stock is currently owned by institutional investors and hedge funds.

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.