Barrick Gold (NYSE:GOLD) Trading Down 2.9%

Shares of Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) were down 2.9% during mid-day trading on Tuesday . The company traded as low as $16.81 and last traded at $16.81. Approximately 8,041,885 shares changed hands during trading, a decline of 65% from the average daily volume of 22,825,068 shares. The stock had previously closed at $17.32.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GOLD shares. Sanford C. Bernstein lowered shares of Barrick Gold from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. Scotiabank dropped their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 20th. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th. Jefferies Financial Group started coverage on shares of Barrick Gold in a report on Thursday, February 29th. They set a “buy” rating and a $21.00 price objective on the stock. Finally, Argus reissued a “hold” rating on shares of Barrick Gold in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.06.

Barrick Gold Stock Performance

The firm’s fifty day simple moving average is $16.26 and its 200 day simple moving average is $16.34. The company has a market capitalization of $29.06 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.47 and a beta of 0.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.16 and a quick ratio of 2.40.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its quarterly earnings data on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 earnings per share. On average, research analysts predict that Barrick Gold Corp will post 0.95 EPS for the current year.

Barrick Gold Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio is 55.56%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GOLD. Wellington Management Group LLP raised its position in shares of 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 purchasing an additional 37,128,653 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Barrick Gold by 9.7% during the 4th quarter. Van ECK Associates Corp now owns 80,933,517 shares of the gold and copper producer’s stock worth $1,464,070,000 after purchasing an additional 7,150,142 shares during the last quarter. Capital World Investors raised its position in shares of 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 during the last quarter. Ruffer LLP raised its position in shares of Barrick Gold by 198.3% during the 4th quarter. Ruffer LLP now owns 9,606,218 shares of the gold and copper producer’s stock worth $173,727,000 after purchasing an additional 6,385,566 shares during the last quarter. Finally, FMR LLC raised its position in shares of Barrick Gold by 12.2% during the 3rd quarter. FMR LLC now owns 43,399,480 shares of the gold and copper producer’s stock worth $631,228,000 after purchasing an additional 4,731,559 shares during the last quarter. Institutional investors and hedge funds 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.