Barrick Gold Corp (NYSE:B - Get Free Report) TSE: ABX saw an uptick in trading volume on Monday . 3,765,209 shares changed hands during mid-day trading, an increase of 61% from the previous session's volume of 2,335,413 shares.The stock last traded at $20.06 and had previously closed at $19.82.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. National Bankshares restated an "outperform" rating on shares of Barrick Gold in a report on Wednesday, April 2nd. National Bank Financial upgraded Barrick Gold to a "hold" rating in a report on Friday, March 21st. Citigroup reduced their price target on Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, March 31st. Wall Street Zen upgraded Barrick Gold from a "buy" rating to a "strong-buy" rating in a report on Friday. Finally, Scotiabank boosted their price target on Barrick Gold from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.32.
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Barrick Gold Price Performance
The business has a fifty day simple moving average of $19.08 and a two-hundred day simple moving average of $17.87. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The stock has a market cap of $34.79 billion, a PE ratio of 16.45, a P/E/G ratio of 0.44 and a beta of 0.27.
Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last posted its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the business earned $0.19 EPS. The business's revenue for the quarter was up 13.9% on a year-over-year basis. Research analysts forecast that Barrick Gold Corp will post 1.47 earnings per share for the current year.
Barrick Gold Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a $0.10 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.98%. Barrick Gold's dividend payout ratio is currently 30.08%.
Barrick Gold announced that its Board of Directors has approved a share repurchase program 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 purchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On Barrick Gold
Institutional investors and hedge funds have recently modified their holdings of the stock. Crowley Wealth Management Inc. purchased a new stake in Barrick Gold during the 4th quarter valued at $26,000. Vega Investment Solutions purchased a new stake in Barrick Gold during the 4th quarter valued at $31,000. Nexus Investment Management ULC purchased a new stake in Barrick Gold during the 1st quarter valued at $32,000. Cary Street Partners Investment Advisory LLC purchased a new stake in Barrick Gold during the 1st quarter valued at $32,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Barrick Gold during the 4th quarter valued at $37,000. 90.82% of the stock is currently owned by institutional investors.
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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