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

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

Wall Street Analyst Weigh In

GOLD has been the subject of several analyst reports. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $18.00 target price on shares of Barrick Gold in a research note on Monday, March 4th. Finally, BMO Capital Markets dropped their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Barrick Gold has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Barrick Gold Stock Down 1.0 %

The business has a fifty day moving average of $16.84 and a 200-day moving average of $16.48. The stock has a market cap of $29.27 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 0.48 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.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The company had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same period in the prior year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Barrick Gold Corp will post 1.08 earnings per share for the current year.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.40%. Barrick Gold’s dividend payout ratio (DPR) is currently 48.78%.

Institutional Trading of Barrick Gold

Hedge funds have recently modified their holdings of the company. Mariner LLC increased its position in shares of Barrick Gold by 3.0% in the 3rd quarter. Mariner LLC now owns 135,955 shares of the gold and copper producer’s stock valued at $1,978,000 after acquiring an additional 3,901 shares during the period. Stifel Financial Corp raised its holdings in shares of Barrick Gold by 4.0% during the third quarter. Stifel Financial Corp now owns 647,116 shares of the gold and copper producer’s stock worth $9,416,000 after purchasing an additional 25,153 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in Barrick Gold by 41.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 3,919 shares of the gold and copper producer’s stock valued at $57,000 after purchasing an additional 1,142 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Barrick Gold in the third quarter valued at $6,892,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Barrick Gold in the third quarter worth about $313,000. 62.85% of the stock is owned by hedge funds and other institutional investors.

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.