Barrick Gold (NYSE:B) Shares Gap Down - Time to Sell?

Barrick Gold Corp (NYSE:B - Get Free Report) TSE: ABX's stock price gapped down prior to trading on Tuesday . The stock had previously closed at $19.07, but opened at $18.64. Barrick Gold shares last traded at $18.93, with a volume of 2,265,340 shares trading hands.

Analysts Set New Price Targets

Several brokerages have issued reports on B. TD Securities lowered their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. National Bankshares restated an "outperform" rating on shares of Barrick Gold in a report on Wednesday, April 2nd. Scotiabank upped their price target on shares of Barrick Gold from $20.00 to $22.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. Citigroup lowered their target price on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. Finally, National Bank Financial raised Barrick Gold to a "hold" rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.05.

Barrick Gold Trading Down 0.1%

The company has a market capitalization of $32.68 billion, a P/E ratio of 15.45, a PEG ratio of 0.44 and a beta of 0.25. The business has a 50 day moving average price of $19.02 and a 200 day moving average price of $17.76. 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 (NYSE:B - Get Free Report) TSE: ABX last issued its quarterly earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The firm had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. The business's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. Analysts anticipate that Barrick Gold Corp 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. Investors of record on Friday, May 30th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, May 30th. Barrick Gold's dividend payout ratio (DPR) is currently 30.08%.

Barrick Gold declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Barrick Gold

A number of hedge funds have recently made changes to their positions in the stock. Crowley Wealth Management Inc. bought a new position in shares of Barrick Gold during the fourth quarter valued at about $26,000. Vega Investment Solutions bought a new stake in shares of Barrick Gold in the fourth quarter valued at approximately $31,000. Nexus Investment Management ULC purchased a new position in shares of Barrick Gold in the first quarter valued at $32,000. Cary Street Partners Investment Advisory LLC bought a new stake in shares of Barrick Gold during the first quarter valued at about $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Barrick Gold in the 4th quarter valued at $37,000. 90.82% of the stock is currently owned by institutional investors.

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.