Barrick Gold Corp (NYSE:B) Receives $24.05 Average PT from Analysts

Shares of Barrick Gold Corp (NYSE:B - Get Free Report) TSE: ABX have been given an average rating of "Moderate Buy" by the fifteen research firms that are covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $24.05.

B has been the topic of a number of recent research reports. Scotiabank increased 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. Citigroup cut their price target on Barrick Gold from $21.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, March 31st. Wall Street Zen assumed coverage on shares of Barrick Gold in a report on Monday, May 12th. They issued a "sell" rating for the company. UBS Group lifted their target price on Barrick Gold from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Raymond James upped their target price on shares of Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a research report on Monday, March 31st.

Barrick Gold Stock Performance

B traded down $0.16 on Friday, hitting $18.91. The company's stock had a trading volume of 11,563,501 shares, compared to its average volume of 1,609,770. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. Barrick Gold has a 12 month low of $17.41 and a 12 month high of $47.50. The firm has a market cap of $32.51 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25. The company's 50 day simple moving average is $19.02 and its 200-day simple moving average is $17.73.

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

Barrick Gold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.12%. Barrick Gold's dividend payout ratio (DPR) is 30.08%.

Barrick Gold announced that its board has authorized a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of Barrick Gold

Several large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Barrick Gold by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer's stock worth $78,637,000 after purchasing an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH grew its stake in shares of Barrick Gold by 97.3% during the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer's stock worth $22,630,000 after purchasing an additional 720,000 shares during the period. Smith Group Asset Management LLC bought a new stake in shares of Barrick Gold in the fourth quarter worth about $1,240,000. Baader Bank Aktiengesellschaft acquired a new stake in shares of Barrick Gold during the fourth quarter worth $344,000. Finally, Union Bancaire Privee UBP SA acquired a new position in Barrick Gold during the 4th quarter worth approximately $499,000. 90.82% of the stock is owned by institutional investors and hedge funds.

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.