Barrick Gold (NYSE:GOLD) Shares Down 1.1% – What’s Next?

Barrick Gold Corp (NYSE:GOLD) (TSE:ABX)’s stock price fell 1.1% during mid-day trading on Wednesday . The company traded as low as $16.82 and last traded at $16.84. 5,297,845 shares traded hands during trading, a decline of 75% from the average session volume of 21,298,307 shares. The stock had previously closed at $17.02.

Analyst Ratings Changes

A number of research firms recently issued reports on GOLD. Scotiabank reduced their price objective on Barrick Gold from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Jefferies Financial Group boosted their price objective on Barrick Gold from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, September 13th. UBS Group lowered Barrick Gold from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $22.00 in a research report on Wednesday, October 30th. Argus upgraded Barrick Gold from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, August 29th. Finally, TD Securities reduced their price target on Barrick Gold from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Barrick Gold presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

Barrick Gold Stock Down 1.1 %

The business has a 50 day simple moving average of $19.84 and a 200 day simple moving average of $18.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.65 and a quick ratio of 2.06. The stock has a market cap of $29.42 billion, a PE ratio of 18.10, a P/E/G ratio of 0.40 and a beta of 0.56.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last issued its earnings results on Monday, August 12th. The gold and copper producer reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Barrick Gold had a return on equity of 5.82% and a net margin of 13.19%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts forecast that Barrick Gold Corp will post 1.29 EPS for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 2.38%. Barrick Gold’s dividend payout ratio (DPR) is currently 43.01%.

Institutional Trading of Barrick Gold

Several large investors have recently made changes to their positions in GOLD. Sei Investments Co. boosted its position in Barrick Gold by 9.5% in the 1st quarter. Sei Investments Co. now owns 685,876 shares of the gold and copper producer’s stock valued at $11,413,000 after buying an additional 59,456 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Barrick Gold by 7.2% in the 1st quarter. Russell Investments Group Ltd. now owns 2,268,534 shares of the gold and copper producer’s stock valued at $37,754,000 after acquiring an additional 151,458 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Barrick Gold by 10.3% in the 1st quarter. Bleakley Financial Group LLC now owns 24,121 shares of the gold and copper producer’s stock valued at $401,000 after acquiring an additional 2,245 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of 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 valued at $978,766,000 after acquiring an additional 14,138,639 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new position in shares of Barrick Gold in the 1st quarter valued at about $190,000. Institutional investors 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.