Barrick Gold (NYSE:GOLD) Stock Price Up 1.5% - What's Next?

Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX's share price traded up 1.5% on Monday . The stock traded as high as $20.94 and last traded at $20.46. 7,336,235 shares traded hands during trading, a decline of 69% from the average session volume of 23,992,553 shares. The stock had previously closed at $20.17.

Analyst Ratings Changes

A number of analysts recently commented on GOLD shares. BMO Capital Markets started coverage on Barrick Gold in a research note on Wednesday, April 16th. They set a "market perform" rating on the stock. 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 research note on Friday, April 4th. Scotiabank increased their price target on Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Monday, April 14th. TD Securities dropped their target price on Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Citigroup lowered their price target on Barrick Gold from $21.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, March 31st. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.05.

Barrick Gold Trading Down 1.9 %

The firm has a fifty day moving average of $18.95 and a 200 day moving average of $17.93. The firm has a market capitalization of $32.76 billion, a PE ratio of 15.49, a P/E/G ratio of 0.44 and a beta of 0.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89.

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

Barrick Gold Dividend Announcement

The firm also recently announced 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 of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.10%. Barrick Gold's dividend payout ratio is presently 32.52%.

Barrick Gold declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the gold and copper producer to reacquire up to 3.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Barrick Gold

Several institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. raised its holdings in Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer's stock valued at $9,630,000 after acquiring an additional 80,366 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Barrick Gold by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer's stock valued at $78,637,000 after buying an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH raised its stake in Barrick Gold by 97.3% during the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer's stock valued at $22,630,000 after buying an additional 720,000 shares in the last quarter. Legend Financial Advisors Inc. acquired a new stake in Barrick Gold during the fourth quarter valued at approximately $700,000. Finally, Gateway Investment Advisers LLC grew its position in shares of Barrick Gold by 6.9% in the 4th quarter. Gateway Investment Advisers LLC now owns 278,717 shares of the gold and copper producer's stock worth $4,320,000 after acquiring an additional 17,980 shares in the last quarter. 62.85% of the stock is currently owned by hedge funds and other institutional investors.

About Barrick Gold

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.