Barrick Gold Corp (NYSE:GOLD) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $21.60.

A number of analysts have commented on GOLD shares. BMO Capital Markets reduced their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Scotiabank reduced their target price on Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 20th. TD Securities decreased their price target on shares of Barrick Gold from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. Finally, Jefferies Financial Group assumed coverage on shares of Barrick Gold in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 target price on the stock.

Hedge Funds Weigh In On Barrick Gold

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Clean Yield Group acquired a new position in shares of Barrick Gold during the first quarter worth approximately $25,000. Principal Securities Inc. acquired a new position in Barrick Gold during the 4th quarter worth $26,000. EverSource Wealth Advisors LLC lifted its holdings in Barrick Gold by 175.6% during 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 in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Barrick Gold in the 4th quarter valued at $35,000. Finally, LRI Investments LLC bought a new stake in shares of Barrick Gold during the first quarter worth $37,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Price Performance

NYSE:GOLD opened at $16.02 on Friday. 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 has a one year low of $13.76 and a one year high of $18.95. The company has a fifty day moving average price of $17.00 and a 200 day moving average price of $16.53. The stock has a market cap of $28.13 billion, a P/E ratio of 19.54, a PEG ratio of 0.47 and a beta of 0.59.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last announced 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. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter in the prior year, the business earned $0.14 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts anticipate that Barrick Gold will post 1.06 earnings per share for the current year.

Barrick Gold Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a $0.10 dividend. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, May 31st. Barrick Gold’s payout ratio is presently 48.78%.

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.