Barrick Gold (NYSE:GOLD) Stock Price Up 1.1%

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) were up 1.1% on Thursday . The stock traded as high as $17.01 and last traded at $16.99. Approximately 3,375,052 shares were traded during trading, a decline of 85% from the average daily volume of 21,899,236 shares. The stock had previously closed at $16.80.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GOLD shares. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. BMO Capital Markets dropped their target price on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $18.00 price objective on shares of Barrick Gold in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.60.

Barrick Gold Trading Down 1.0 %

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 company has a market cap of $29.27 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 0.48 and a beta of 0.59. The business’s fifty day moving average price is $16.84 and its 200 day moving average price is $16.48.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the business earned $0.14 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. Research analysts anticipate that Barrick Gold Corp will post 1.08 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 2.40%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s payout ratio is currently 48.78%.

Hedge Funds Weigh In On Barrick Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Barrick Gold by 131.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,152 shares of the gold and copper producer’s stock worth $69,000 after acquiring an additional 2,358 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Barrick Gold by 4.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 146,833 shares of the gold and copper producer’s stock valued at $2,405,000 after purchasing an additional 5,646 shares in the last quarter. Clean Yield Group purchased a new position in shares of Barrick Gold during the first quarter valued at approximately $25,000. Cetera Advisors LLC grew its holdings in Barrick Gold by 103.4% during the first quarter. Cetera Advisors LLC now owns 45,087 shares of the gold and copper producer’s stock worth $750,000 after buying an additional 22,921 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in Barrick Gold by 783.2% in the 1st quarter. Cetera Investment Advisers now owns 341,854 shares of the gold and copper producer’s stock valued at $5,688,000 after buying an additional 303,148 shares during the last quarter. 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.