Barrick Gold (NYSE:GOLD) Shares Down 0.3%

Barrick Gold Corp (NYSE:GOLDGet Free Report) (TSE:ABX) dropped 0.3% during mid-day trading on Monday . The stock traded as low as $17.17 and last traded at $17.38. Approximately 3,834,382 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 21,587,607 shares. The stock had previously closed at $17.44.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GOLD. BMO Capital Markets lowered their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. CIBC increased their price objective on shares of Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a report on Wednesday. Finally, National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

View Our Latest Research Report on Barrick Gold

Barrick Gold Stock Performance

The stock has a market cap of $31.23 billion, a P/E ratio of 21.68, a PEG ratio of 0.49 and a beta of 0.51. 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 fifty day moving average of $16.89 and a 200 day moving average of $16.45.

Barrick Gold (NYSE:GOLDGet Free Report) (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 analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the business earned $0.14 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts predict that Barrick Gold Corp will post 1.07 earnings per share for the current fiscal year.

Barrick Gold Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were given a dividend of $0.10 per share. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. The ex-dividend date was Friday, May 31st. This represents a $0.40 annualized dividend and a dividend yield of 2.25%. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in Barrick Gold by 58.4% during 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 during the period. Van ECK Associates Corp raised its holdings in shares of Barrick Gold by 9.7% during the fourth quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock valued at $1,464,070,000 after acquiring an additional 7,150,142 shares during the period. Vanguard Group Inc. lifted its position in shares of Barrick Gold by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 64,761,067 shares of the gold and copper producer’s stock valued at $1,077,624,000 after acquiring an additional 1,089,572 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Barrick Gold by 31.6% in the 1st quarter. First Eagle Investment Management LLC now owns 58,820,050 shares of the gold and copper producer’s stock worth $978,766,000 after purchasing an additional 14,138,639 shares during the period. Finally, Capital World Investors grew its position in Barrick Gold by 16.4% during 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 purchasing an additional 6,417,244 shares in the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

About Barrick Gold

(Get Free Report)

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.

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