Barrick Gold (NYSE:GOLD) Shares Down 0.8% – Should You Sell?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price was down 0.8% on Thursday . The company traded as low as $17.86 and last traded at $18.28. Approximately 7,960,103 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 21,090,602 shares. The stock had previously closed at $18.43.

Analyst Upgrades and Downgrades

GOLD has been the topic of several recent research reports. Jefferies Financial Group upped their price target on shares of Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 13th. Scotiabank raised their target price on Barrick Gold from $23.00 to $25.00 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Raymond James lowered their price objective on Barrick Gold from $26.50 to $26.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. CIBC lifted their target price on shares of Barrick Gold from $23.00 to $27.00 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Finally, UBS Group downgraded shares of Barrick Gold from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $22.00 in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.50.

Barrick Gold Price Performance

The stock’s 50 day moving average is $20.02 and its two-hundred day moving average is $18.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.31 and a current ratio of 3.01. The stock has a market capitalization of $32.30 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 0.45 and a beta of 0.56.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating the consensus estimate of $0.27 by $0.05. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a return on equity of 5.53% and a net margin of 12.78%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS. On average, equities analysts anticipate that Barrick Gold Corp will post 1.29 EPS for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.10 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.16%. Barrick Gold’s payout ratio is 46.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC lifted its position in Barrick Gold by 198.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,407 shares of the gold and copper producer’s stock worth $28,000 after buying an additional 935 shares in the last quarter. Clean Yield Group purchased a new position in shares of Barrick Gold during the 1st quarter worth $25,000. Eastern Bank purchased a new position in shares of Barrick Gold during the 3rd quarter worth $32,000. Crewe Advisors LLC boosted its position in shares of Barrick Gold by 628.8% during the 2nd quarter. Crewe Advisors LLC now owns 1,822 shares of the gold and copper producer’s stock valued at $30,000 after acquiring an additional 1,572 shares during the last quarter. Finally, JFS Wealth Advisors LLC grew its holdings in shares of Barrick Gold by 451.7% in the third quarter. JFS Wealth Advisors LLC now owns 1,909 shares of the gold and copper producer’s stock valued at $38,000 after purchasing an additional 1,563 shares during the period. 62.85% of the stock is currently owned by institutional investors and hedge funds.

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.