Barrick Gold (NYSE:GOLD) Stock Price Down 0.7%

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s share price traded down 0.7% during mid-day trading on Wednesday . The company traded as low as $19.23 and last traded at $19.47. 5,263,890 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 21,529,053 shares. The stock had previously closed at $19.60.

Analyst Ratings Changes

Several research firms have commented on GOLD. CIBC boosted their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday, July 10th. Scotiabank boosted their target price on shares of Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, August 29th. Finally, Jefferies Financial Group upped their price objective on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Barrick Gold has an average rating of “Moderate Buy” and an average price target of $22.80.

Barrick Gold Price Performance

The firm has a market capitalization of $34.11 billion, a PE ratio of 23.73, a P/E/G ratio of 0.51 and a beta of 0.51. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average price of $18.61 and a two-hundred day moving average price of $17.21.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data 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. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a return on equity of 5.55% and a net margin of 12.78%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share. Sell-side analysts forecast that Barrick Gold Corp will post 1.21 earnings per share for the current year.

Barrick Gold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, August 30th. Barrick Gold’s dividend payout ratio is currently 48.78%.

Institutional Investors Weigh In On Barrick Gold

Hedge funds have recently made changes to their positions in the business. Natixis Advisors L.P. lifted its holdings in shares of Barrick Gold by 47.7% during the fourth quarter. Natixis Advisors L.P. now owns 87,638 shares of the gold and copper producer’s stock worth $1,585,000 after purchasing an additional 28,318 shares during the period. M&T Bank Corp lifted its stake in shares of Barrick Gold by 8.7% in the 4th quarter. M&T Bank Corp now owns 46,182 shares of the gold and copper producer’s stock worth $835,000 after acquiring an additional 3,690 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Barrick Gold by 32.0% in the fourth quarter. Private Advisor Group LLC now owns 224,293 shares of the gold and copper producer’s stock valued at $4,057,000 after acquiring an additional 54,356 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Barrick Gold by 53.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 61,017 shares of the gold and copper producer’s stock valued at $1,104,000 after acquiring an additional 21,194 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Barrick Gold during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

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.