Barrick Gold (NYSE:GOLD) Price Target Raised to $22.00

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its target price raised by Scotiabank from $20.00 to $22.00 in a research report report published on Monday morning, Marketbeat reports. Scotiabank currently has a sector perform rating on the gold and copper producer’s stock.

GOLD has been the topic of a number of other research reports. Stifel Canada upgraded Barrick Gold to a “strong-buy” rating in a report on Wednesday, March 19th. Citigroup decreased their target price on shares of Barrick Gold from $21.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. National Bank Financial raised Barrick Gold to a “hold” rating in a research note on Friday, March 21st. StockNews.com raised Barrick Gold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 5th. Finally, TD Securities reduced their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.21.

Barrick Gold Trading Up 1.7 %

Shares of GOLD opened at $20.66 on Monday. The firm has a fifty day simple moving average of $18.69 and a two-hundred day simple moving average of $17.94. Barrick Gold has a twelve month low of $15.11 and a twelve month high of $21.35. The stock has a market capitalization of $35.52 billion, a P/E ratio of 16.80, a PEG ratio of 0.44 and a beta of 0.55. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. On average, research analysts anticipate that Barrick Gold will post 1.47 EPS for the current year.

Barrick Gold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.94%. Barrick Gold’s dividend payout ratio (DPR) is 32.52%.

Barrick Gold declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Barrick Gold

Several institutional investors and hedge funds have recently modified their holdings of GOLD. Geode Capital Management LLC raised its stake in Barrick Gold by 9.5% during the 3rd quarter. Geode Capital Management LLC now owns 8,047,255 shares of the gold and copper producer’s stock valued at $162,140,000 after purchasing an additional 696,556 shares during the period. Bard Financial Services Inc. grew its stake in Barrick Gold by 3.5% during the third quarter. Bard Financial Services Inc. now owns 55,875 shares of the gold and copper producer’s stock valued at $1,111,000 after acquiring an additional 1,875 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Barrick Gold in the 3rd quarter worth $517,000. Synovus Financial Corp purchased a new position in shares of Barrick Gold during the third quarter valued at about $210,000. Finally, Inspire Trust Co. N.A. increased its holdings in shares of Barrick Gold by 25.2% in the third quarter. Inspire Trust Co. N.A. now owns 49,700 shares of the gold and copper producer’s stock worth $989,000 after purchasing an additional 10,000 shares during the last quarter. 62.85% of the stock is currently owned by institutional investors.

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.