Barrick Gold (NYSE:GOLD) Shares Down 0.9% – Here’s Why

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) traded down 0.9% on Monday . The company traded as low as $19.78 and last traded at $19.81. 2,207,298 shares changed hands during trading, a decline of 90% from the average session volume of 21,078,186 shares. The stock had previously closed at $19.99.

Wall Street Analysts Forecast Growth

GOLD has been the topic of a number of research reports. CIBC increased their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Royal Bank of Canada raised their price target on shares of Barrick Gold from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 10th. Jefferies Financial Group boosted their price objective 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. Argus raised shares of Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, August 29th. Finally, Raymond James dropped their price target on shares of Barrick Gold from $26.50 to $26.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.60.

Barrick Gold Trading Down 1.4 %

The firm has a 50-day moving average of $19.85 and a two-hundred day moving average of $18.17. The firm has a market capitalization of $34.93 billion, a P/E ratio of 24.37, a P/E/G ratio of 0.47 and a beta of 0.55. The company has a current ratio of 3.01, a quick ratio of 2.31 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued 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 business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Barrick Gold had a net margin of 12.78% and a return on equity of 5.53%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 EPS. On average, analysts anticipate that Barrick Gold Corp will post 1.27 EPS for the current year.

Barrick Gold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Friday, August 30th. Barrick Gold’s payout ratio is 48.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GOLD. Vontobel Holding Ltd. increased its position in Barrick Gold by 95.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 321,166 shares of the gold and copper producer’s stock valued at $6,387,000 after acquiring an additional 157,050 shares during the period. Creative Planning increased its holdings in Barrick Gold by 6.4% in the third quarter. Creative Planning now owns 115,395 shares of the gold and copper producer’s stock valued at $2,295,000 after purchasing an additional 6,902 shares during the period. Sapient Capital LLC raised its position in Barrick Gold by 2.2% during the 3rd quarter. Sapient Capital LLC now owns 114,055 shares of the gold and copper producer’s stock worth $2,269,000 after purchasing an additional 2,435 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Barrick Gold by 198.1% during the 3rd 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 during the period. Finally, Ritholtz Wealth Management grew its position in shares of Barrick Gold by 2.8% in the 3rd quarter. Ritholtz Wealth Management now owns 18,163 shares of the gold and copper producer’s stock valued at $361,000 after buying an additional 502 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

About Barrick Gold

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.