Barrick Gold (NYSE:GOLD) Price Target Increased to $25.00 by Analysts at Scotiabank

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its price objective raised by Scotiabank from $23.00 to $25.00 in a research note released on Monday, Benzinga reports. They currently have a sector outperform rating on the gold and copper producer’s stock.

A number of other equities analysts also recently commented on GOLD. Jefferies Financial Group increased their price objective on Barrick Gold from $22.00 to $23.00 and gave the stock a buy rating in a report on Friday, July 12th. CIBC increased their price target on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an outperformer rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $22.67.

Barrick Gold Stock Up 1.0 %

GOLD stock opened at $20.61 on Monday. Barrick Gold has a 12-month low of $13.76 and a 12-month high of $20.89. The company has a quick ratio of 2.49, a current ratio of 3.32 and a debt-to-equity ratio of 0.15. The company has a market cap of $36.12 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 0.48 and a beta of 0.51. The company has a 50 day moving average of $17.82 and a two-hundred day moving average of $16.82.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that Barrick Gold will post 1.16 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.10 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.94%. Barrick Gold’s dividend payout ratio is 48.78%.

Hedge Funds Weigh In On Barrick Gold

A number of institutional investors and hedge funds have recently bought and sold shares of GOLD. Principal Securities Inc. bought a new stake in Barrick Gold in the 4th quarter valued at $26,000. Clean Yield Group acquired a new position in shares of Barrick Gold during the first quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its position in shares of Barrick Gold by 175.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after buying an additional 1,143 shares during the last quarter. Crewe Advisors LLC lifted its stake in shares of Barrick Gold by 628.8% in the second quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after buying an additional 1,572 shares during the period. Finally, Jackson Grant Investment Advisers Inc. acquired a new stake in Barrick Gold during the second quarter worth about $32,000. Institutional investors 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.