Barrick Gold Corp (NYSE:GOLD – Get Rating) (TSE:ABX) has received an average rating of "Moderate Buy" from the thirteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.17.
Several research analysts have weighed in on GOLD shares. Stifel Nicolaus decreased their price objective on shares of Barrick Gold from C$41.00 to C$35.25 in a report on Wednesday, July 20th. Fundamental Research reissued a "buy" rating and set a $23.42 price objective (down from $26.11) on shares of Barrick Gold in a report on Tuesday, August 16th. TheStreet lowered shares of Barrick Gold from a "b-" rating to a "c+" rating in a report on Friday, July 29th. BMO Capital Markets raised their price objective on shares of Barrick Gold from $27.00 to $28.00 and gave the stock an "outperform" rating in a report on Tuesday, August 9th. Finally, Barclays decreased their price objective on shares of Barrick Gold from $28.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, July 19th.
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Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors boosted its stake in Barrick Gold by 12.3% during the 1st quarter. Capital World Investors now owns 72,051,877 shares of the gold and copper producer's stock valued at $1,767,341,000 after purchasing an additional 7,901,325 shares during the period. Vanguard Group Inc. raised its position in shares of Barrick Gold by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 56,601,028 shares of the gold and copper producer's stock worth $1,388,423,000 after buying an additional 1,379,254 shares in the last quarter. Invesco Ltd. raised its position in shares of Barrick Gold by 12.4% during the 1st quarter. Invesco Ltd. now owns 23,057,924 shares of the gold and copper producer's stock worth $565,610,000 after buying an additional 2,540,995 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Barrick Gold by 4.8% during the 2nd quarter. Mackenzie Financial Corp now owns 19,641,465 shares of the gold and copper producer's stock worth $347,296,000 after buying an additional 895,147 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Barrick Gold by 40.8% during the 1st quarter. Wellington Management Group LLP now owns 17,824,320 shares of the gold and copper producer's stock worth $437,387,000 after buying an additional 5,164,698 shares in the last quarter. 58.03% of the stock is owned by institutional investors and hedge funds.
Barrick Gold Stock Performance
Barrick Gold stock opened at $14.95 on Thursday. Barrick Gold has a 12-month low of $13.97 and a 12-month high of $26.07. The company has a market capitalization of $26.42 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 6.92 and a beta of 0.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.95 and a quick ratio of 3.19. The firm's fifty day moving average price is $15.57 and its 200 day moving average price is $19.35.
Barrick Gold (NYSE:GOLD – Get Rating) (TSE:ABX) last released its quarterly earnings results on Monday, August 8th. The gold and copper producer reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.85 billion. Barrick Gold had a net margin of 16.87% and a return on equity of 5.95%. The firm's quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. On average, research analysts forecast that Barrick Gold will post 1.02 EPS for the current fiscal year.
Barrick Gold Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.156 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Tuesday, August 30th. Barrick Gold's payout ratio is 35.40%.
About Barrick Gold
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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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