Barrick Gold Corp (NYSE:GOLD – Get Free Report) TSE: ABX’s stock price was down 0.3% on Wednesday . The company traded as low as $19.18 and last traded at $19.19. Approximately 6,038,557 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 21,749,184 shares. The stock had previously closed at $19.25.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on GOLD. CIBC upped their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Jefferies Financial Group lifted their price objective on Barrick Gold from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, BMO Capital Markets cut their target price on 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.20.
Barrick Gold Stock Performance
The company has a market capitalization of $33.09 billion, a PE ratio of 23.07, a P/E/G ratio of 0.50 and a beta of 0.51. 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 simple moving average of $17.07 and a 200 day simple moving average of $16.45.
Barrick Gold (NYSE:GOLD – Get Free Report) TSE: ABX last issued its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 EPS. Equities analysts anticipate that Barrick Gold Corp will post 1.12 EPS for the current fiscal year.
Barrick Gold Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a dividend of $0.10 per share. The ex-dividend date was Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.12%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio (DPR) is presently 48.78%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in shares of Barrick Gold during the 4th quarter worth $26,000. Clean Yield Group acquired a new stake in Barrick Gold in the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its stake in Barrick Gold by 175.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock worth $32,000 after buying an additional 1,143 shares during the last quarter. Jackson Grant Investment Advisers Inc. purchased a new stake in Barrick Gold in the 2nd quarter valued at about $32,000. Finally, Bruce G. Allen Investments LLC purchased a new position in shares of Barrick Gold during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 62.85% of the company’s stock.
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.