Barrick Gold (NYSE:GOLD) Trading Down 2.9%

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) were down 2.9% during mid-day trading on Tuesday . The stock traded as low as $16.81 and last traded at $16.81. Approximately 8,041,885 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 22,825,068 shares. The stock had previously closed at $17.32.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GOLD shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Barrick Gold in a research report on Monday, March 4th. Scotiabank lowered their price objective on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 20th. CIBC lowered their price objective on Barrick Gold from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Argus reaffirmed a “hold” rating on shares of Barrick Gold in a research report on Monday, February 26th. Finally, StockNews.com raised Barrick Gold from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Barrick Gold currently has an average rating of “Moderate Buy” and a consensus target price of $20.06.

Barrick Gold Price Performance

The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $29.06 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59. The firm has a 50 day moving average price of $16.26 and a 200 day moving average price of $16.34.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping the consensus estimate of $0.15 by $0.04. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. Barrick Gold had a return on equity of 4.64% and a net margin of 11.16%. Barrick Gold’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 EPS. Research analysts anticipate that Barrick Gold Corp will post 0.95 earnings per share for the current year.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.42%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date is Friday, May 31st. Barrick Gold’s dividend payout ratio is 55.56%.

Institutional Investors Weigh In On Barrick Gold

A number of institutional investors have recently bought and sold shares of GOLD. Wellington Management Group LLP increased its stake in Barrick Gold by 58.4% in the 4th quarter. Wellington Management Group LLP now owns 100,680,644 shares of the gold and copper producer’s stock worth $1,821,963,000 after buying an additional 37,128,653 shares in the last quarter. Van ECK Associates Corp increased its stake in Barrick Gold by 9.7% in the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $1,464,070,000 after buying an additional 7,150,142 shares in the last quarter. Capital World Investors increased its stake in Barrick Gold by 16.4% in the 4th quarter. Capital World Investors now owns 45,479,229 shares of the gold and copper producer’s stock worth $821,790,000 after buying an additional 6,417,244 shares in the last quarter. Ruffer LLP increased its stake in Barrick Gold by 198.3% in the 4th quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock worth $173,727,000 after buying an additional 6,385,566 shares in the last quarter. Finally, FMR LLC increased its stake in Barrick Gold by 12.2% in the 3rd quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock worth $631,228,000 after buying an additional 4,731,559 shares in the last quarter. Hedge funds and other institutional investors 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.