Barrick Gold (NYSE:B) Earns Sell Rating from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of Barrick Gold (NYSE:B - Get Free Report) TSE: ABX in a report issued on Monday. The brokerage set a "sell" rating on the gold and copper producer's stock.

Other equities analysts have also recently issued reports about the company. Scotiabank raised their target price on Barrick Gold from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Citigroup decreased their target price on Barrick Gold from $21.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. National Bank Financial upgraded shares of Barrick Gold to a "hold" rating in a research report on Friday, March 21st. Raymond James upped their price target 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. Finally, National Bankshares restated an "outperform" rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.05.

Barrick Gold Trading Down 6.1%

Shares of NYSE B traded down $1.19 during mid-day trading on Monday, reaching $18.28. 7,948,136 shares of the company's stock were exchanged, compared to its average volume of 677,578. The firm has a market capitalization of $31.42 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 0.44 and a beta of 0.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89. Barrick Gold has a 52-week low of $18.06 and a 52-week high of $47.50. The company's 50-day moving average is $19.09 and its 200-day moving average is $17.79.

Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last announced its quarterly 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. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. The business had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same period last year, the business earned $0.19 earnings per share. The business's revenue for the quarter was up 13.9% on a year-over-year basis. Analysts expect that Barrick Gold will post 1.47 EPS for the current fiscal year.

Barrick Gold announced that its board has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the gold and copper producer to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Institutional Trading of Barrick Gold

Several large investors have recently bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new position in shares of Barrick Gold during the 4th quarter worth about $26,000. Vega Investment Solutions purchased a new stake in shares of Barrick Gold during the 4th quarter valued at about $31,000. Nexus Investment Management ULC purchased a new stake in shares of Barrick Gold during the 1st quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Barrick Gold during the 1st quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Barrick Gold during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 62.85% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.