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

Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX's stock price gapped down prior to trading on Wednesday . The stock had previously closed at $19.97, but opened at $19.01. Barrick Gold shares last traded at $19.00, with a volume of 10,234,754 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GOLD. Citigroup lowered their target price on Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. Royal Bank of Canada upped their price objective on shares of Barrick Gold from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Scotiabank lifted their target price 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 Bankshares restated an "outperform" rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. Finally, National Bank Financial upgraded shares of Barrick Gold to a "hold" rating in a research note on Friday, March 21st. 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's stock. Based on data from MarketBeat, Barrick Gold currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.05.

Barrick Gold Stock Down 1.9 %

The company has a market cap of $32.76 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 0.44 and a beta of 0.55. 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 has a 50 day moving average of $18.95 and a 200-day moving average of $17.92.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its quarterly earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. On average, equities analysts predict that Barrick Gold Corp will post 1.47 earnings per share for the current year.

Barrick Gold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Friday, February 28th. Barrick Gold's dividend payout ratio (DPR) is currently 32.52%.

Barrick Gold declared that its board has approved a share 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 usually an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Barrick Gold

Hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in shares of Barrick Gold by 21.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock valued at $62,000 after buying an additional 563 shares in the last quarter. Sapient Capital LLC grew its position in Barrick Gold by 0.5% during the first quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer's stock valued at $2,227,000 after acquiring an additional 624 shares during the last quarter. Keystone Financial Group raised its stake in shares of Barrick Gold by 1.4% during the fourth quarter. Keystone Financial Group now owns 56,394 shares of the gold and copper producer's stock worth $874,000 after acquiring an additional 753 shares in the last quarter. Edge Wealth Management LLC lifted its holdings in shares of Barrick Gold by 6.1% in the 1st quarter. Edge Wealth Management LLC now owns 13,110 shares of the gold and copper producer's stock worth $255,000 after acquiring an additional 755 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Barrick Gold by 55.8% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,193 shares of the gold and copper producer's stock valued at $43,000 after purchasing an additional 785 shares in the last quarter. Institutional investors 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.