Barrick Gold (NYSE:GOLD) Trading Up 3.5%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) shares traded up 3.5% during trading on Tuesday . The stock traded as high as $16.37 and last traded at $16.35. 1,919,973 shares were traded during mid-day trading, a decline of 88% from the average session volume of 16,047,706 shares. The stock had previously closed at $15.79.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOLD. BMO Capital Markets cut their price objective on shares of Barrick Gold from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, October 13th. UBS Group cut their price target on shares of Barrick Gold from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, October 6th. Scotiabank decreased their price objective on Barrick Gold from $26.00 to $25.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. StockNews.com raised Barrick Gold from a “hold” rating to a “buy” rating in a research report on Friday. Finally, TD Securities lowered their price target on Barrick Gold from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.31.

Barrick Gold Stock Up 3.4 %

The business’s 50-day moving average is $15.70 and its 200-day moving average is $15.53. The company has a market capitalization of $28.67 billion, a price-to-earnings ratio of 527.00, a P/E/G ratio of 1.51 and a beta of 0.46. The company has a quick ratio of 2.28, a current ratio of 3.07 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Thursday, November 2nd. The gold and copper producer reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. Barrick Gold had a return on equity of 3.88% and a net margin of 0.52%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the company earned $0.13 earnings per share. Barrick Gold’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities analysts predict that Barrick Gold Corp will post 0.82 earnings per share for the current year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Wednesday, November 29th. Barrick Gold’s dividend payout ratio (DPR) is presently 1,333.33%.

Institutional Investors Weigh In On Barrick Gold

A number of institutional investors have recently modified their holdings of GOLD. Fairfield Bush & CO. acquired a new stake in Barrick Gold in the 1st quarter valued at $42,000. Acadian Asset Management LLC acquired a new stake in Barrick Gold in the 1st quarter worth about $647,000. Blair William & Co. IL increased its stake in Barrick Gold by 288.8% during the 1st quarter. Blair William & Co. IL now owns 90,896 shares of the gold and copper producer’s stock worth $2,230,000 after buying an additional 67,516 shares in the last quarter. Sei Investments Co. increased its stake in Barrick Gold by 97.2% during the 1st quarter. Sei Investments Co. now owns 230,278 shares of the gold and copper producer’s stock worth $5,651,000 after buying an additional 113,486 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Barrick Gold by 17.7% during the first quarter. Allianz Asset Management GmbH now owns 1,007,571 shares of the gold and copper producer’s stock valued at $24,620,000 after acquiring an additional 151,763 shares during the last quarter. 58.20% 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.