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

Barrick Gold Corp (NYSE:B - Get Free Report) TSE: ABX's share price gapped down before the market opened on Monday . The stock had previously closed at $19.46, but opened at $18.63. Barrick Gold shares last traded at $18.41, with a volume of 5,420,525 shares trading hands.

Analyst Upgrades and Downgrades

B has been the subject of several research analyst reports. Stifel Canada raised shares of Barrick Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. Scotiabank boosted their price objective on shares of Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. National Bank Financial raised shares of Barrick Gold to a "hold" rating in a report on Friday, March 21st. Royal Bank of Canada lifted their price target on shares of Barrick Gold from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Finally, UBS Group lifted their price target on shares of Barrick Gold from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $24.05.

Barrick Gold Stock Down 6.6%

The firm's fifty day simple moving average is $19.09 and its 200-day simple moving average is $17.79. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The company has a market cap of $31.24 billion, a PE ratio of 14.77, a P/E/G ratio of 0.44 and a beta of 0.25.

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, topping the consensus estimate of $0.29 by $0.06. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business posted $0.19 earnings per share. Barrick Gold's revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, equities research analysts expect that Barrick Gold Corp will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, May 30th. Barrick Gold's payout ratio is 30.08%.

Barrick Gold declared that its board has approved a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of B. Crowley Wealth Management Inc. purchased a new position in shares of Barrick Gold in the fourth quarter worth approximately $26,000. Nexus Investment Management ULC acquired a new stake in shares of Barrick Gold during the first quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC acquired a new stake in shares of Barrick Gold during the first quarter worth approximately $32,000. Vega Investment Solutions acquired a new stake in shares of Barrick Gold during the fourth quarter worth approximately $31,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Barrick Gold by 55.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock worth $43,000 after purchasing an additional 785 shares during the period. 62.85% 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.

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