Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX's stock price fell 1.8% on Tuesday . The company traded as low as $18.95 and last traded at $18.95. 4,037,729 shares changed hands during trading, a decline of 81% from the average session volume of 21,529,474 shares. The stock had previously closed at $19.30.
Analyst Ratings Changes
A number of analysts recently issued reports on GOLD shares. StockNews.com raised shares of Barrick Gold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 5th. Raymond James upped their target price on shares of Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a research note on Monday, March 31st. National Bank Financial raised Barrick Gold to a "hold" rating in a report on Friday, March 21st. Bank of America downgraded Barrick Gold from a "buy" rating to a "neutral" rating and cut their target price for the company from $21.00 to $18.00 in a research note on Monday, January 27th. Finally, Royal Bank of Canada lifted their target price on Barrick Gold from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Barrick Gold has a consensus rating of "Moderate Buy" and a consensus target price of $24.05.
Read Our Latest Research Report on Barrick Gold
Barrick Gold Stock Up 0.3 %
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 firm has a market cap of $31.68 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.44 and a beta of 0.55. The firm's 50 day simple moving average is $18.97 and its two-hundred day simple moving average is $17.90.
Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last released its 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 net margin of 16.59% and a return on equity of 6.76%. On average, equities analysts forecast that Barrick Gold Corp will post 1.47 EPS for the current year.
Barrick Gold Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.17%. Barrick Gold's payout ratio is 32.52%.
Barrick Gold declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the gold and copper producer to repurchase up to 3.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Barrick Gold by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 287,668 shares of the gold and copper producer's stock valued at $5,592,000 after buying an additional 1,035 shares during the period. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Barrick Gold during the first quarter valued at $340,000. SBI Securities Co. Ltd. boosted its holdings in shares of Barrick Gold by 207.5% in the first quarter. SBI Securities Co. Ltd. now owns 460,793 shares of the gold and copper producer's stock worth $8,958,000 after buying an additional 310,951 shares during the last quarter. Sigma Planning Corp grew its position in shares of Barrick Gold by 22.2% during the 1st quarter. Sigma Planning Corp now owns 14,127 shares of the gold and copper producer's stock valued at $275,000 after acquiring an additional 2,567 shares during the period. Finally, Bleakley Financial Group LLC lifted its position in shares of Barrick Gold by 5.5% during the 1st quarter. Bleakley Financial Group LLC now owns 26,366 shares of the gold and copper producer's stock valued at $513,000 after buying an additional 1,375 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.
About Barrick Gold
(
Get Free Report)
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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