Barrick Gold Corp (NYSE:GOLD) Given Average Rating of “Moderate Buy” by Brokerages

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $23.50.

A number of analysts have recently weighed in on GOLD shares. Scotiabank raised their price target on shares of 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 raised their price target 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. Royal Bank of Canada raised their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. CIBC raised their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, August 29th.

Hedge Funds Weigh In On Barrick Gold

A number of institutional investors have recently bought and sold shares of GOLD. Ritholtz Wealth Management grew its stake in shares of Barrick Gold by 2.8% during the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock worth $361,000 after purchasing an additional 502 shares during the period. Greenleaf Trust boosted its stake in Barrick Gold by 2.1% during the 3rd quarter. Greenleaf Trust now owns 25,659 shares of the gold and copper producer’s stock worth $510,000 after purchasing an additional 540 shares during the last quarter. Silverlake Wealth Management LLC boosted its stake in Barrick Gold by 1.3% during the 3rd quarter. Silverlake Wealth Management LLC now owns 49,890 shares of the gold and copper producer’s stock worth $992,000 after purchasing an additional 628 shares during the last quarter. Whitener Capital Management Inc. raised its holdings in shares of Barrick Gold by 0.9% during the 3rd quarter. Whitener Capital Management Inc. now owns 73,185 shares of the gold and copper producer’s stock worth $1,456,000 after acquiring an additional 675 shares during the period. Finally, apricus wealth LLC raised its holdings in shares of Barrick Gold by 0.6% during the 3rd quarter. apricus wealth LLC now owns 112,850 shares of the gold and copper producer’s stock worth $2,245,000 after acquiring an additional 710 shares during the period. 62.85% of the stock is owned by hedge funds and other institutional investors.

Barrick Gold Stock Down 0.8 %

Shares of Barrick Gold stock opened at $18.90 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.01 and a quick ratio of 2.31. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $21.35. The firm’s 50-day moving average is $20.08 and its two-hundred day moving average is $18.43. The stock has a market cap of $33.04 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 0.46 and a beta of 0.56.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the business earned $0.19 EPS. The company’s revenue was up 11.6% compared to the same quarter last year. As a group, research analysts expect that Barrick Gold will post 1.29 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Friday, August 30th. Barrick Gold’s dividend payout ratio is presently 46.51%.

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.