Barrick Gold Corp (NYSE:B) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Barrick Gold Corp (NYSE:B - Get Free Report) TSE: ABX have received a consensus rating of "Moderate Buy" from the fifteen research firms that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $24.05.

A number of equities analysts recently issued reports on the company. Scotiabank raised their target price on Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. TD Securities reduced their target price on Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. National Bankshares restated an "outperform" rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. Raymond James raised their target price on Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Finally, BMO Capital Markets began coverage on shares of Barrick Gold in a report on Wednesday, April 16th. They issued a "market perform" rating on the stock.

Barrick Gold Stock Down 0.1%

Shares of B stock traded down $0.02 during trading hours on Friday, reaching $19.01. 9,058,686 shares of the company's stock were exchanged, compared to its average volume of 1,719,079. The stock's 50 day moving average is $19.02 and its 200-day moving average is $17.76. The company has a market cap of $32.68 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 0.44 and a beta of 0.25. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. Barrick Gold has a fifty-two week low of $17.41 and a fifty-two week high of $47.50.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last released its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The firm's revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. Analysts predict that Barrick Gold will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, May 30th. Barrick Gold's dividend payout ratio (DPR) is presently 30.08%.

Barrick Gold declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Crowley Wealth Management Inc. purchased a new position in Barrick Gold in the 4th quarter valued at about $26,000. Vega Investment Solutions purchased a new position in Barrick Gold in the 4th quarter valued at about $31,000. Nexus Investment Management ULC purchased a new position in Barrick Gold in the 1st quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC purchased a new position in Barrick Gold in the 1st quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Barrick Gold in the 4th quarter valued at about $37,000. 90.82% of the stock is owned by hedge funds and other institutional investors.

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.