Barrick Gold Corp (NYSE:B - Get Free Report) TSE: ABX's stock price reached a new 52-week low on Tuesday . The company traded as low as $18.09 and last traded at $18.22, with a volume of 20986624 shares trading hands. The stock had previously closed at $19.46.
Analyst Ratings Changes
Several brokerages have weighed in on B. Citigroup dropped their price target on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating for the company in a research report on Monday, March 31st. Raymond James boosted their price objective 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. National Bank Financial raised shares of Barrick Gold to a "hold" rating in a research report on Friday, March 21st. BMO Capital Markets started coverage on shares of Barrick Gold in a research report on Wednesday, April 16th. They set a "market perform" rating on the stock. Finally, TD Securities decreased their price target on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Barrick Gold currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.05.
View Our Latest Report on B
Barrick Gold Stock Down 0.6%
The company has a market cap of $30.69 billion, a P/E ratio of 14.51, a P/E/G ratio of 0.44 and a beta of 0.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.15. The company's 50-day moving average is $19.06 and its two-hundred day moving average is $17.77.
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 EPS 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 business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the company earned $0.19 EPS. The company's quarterly revenue was up 13.9% compared to the same quarter last year. As a group, equities analysts predict that Barrick Gold Corp 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. Shareholders of record on Friday, May 30th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold's dividend payout ratio (DPR) is 30.08%.
Barrick Gold declared that its board has authorized a stock repurchase plan 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 plans are typically a sign that the company's leadership believes its shares are undervalued.
Hedge Funds Weigh In On Barrick Gold
Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital International Investors increased its holdings in Barrick Gold by 136.1% in the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after acquiring an additional 19,189,830 shares in the last quarter. Causeway Capital Management LLC bought a new position in shares of Barrick Gold in the fourth quarter worth approximately $172,225,000. Wellington Management Group LLP increased its stake in shares of Barrick Gold by 17.5% in the fourth quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock worth $996,802,000 after purchasing an additional 9,598,292 shares in the last quarter. FIL Ltd raised its position in shares of Barrick Gold by 236.7% during the 4th quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock valued at $105,692,000 after purchasing an additional 4,791,663 shares during the period. Finally, Capital International Inc. CA bought a new stake in shares of Barrick Gold during the 4th quarter valued at $57,991,000. 90.82% of the stock is owned by institutional investors.
Barrick Gold Company Profile
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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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