Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX's share price was up 2.4% during trading on Tuesday . The stock traded as high as $19.11 and last traded at $19.08. Approximately 6,586,864 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 21,417,499 shares. The stock had previously closed at $18.64.
Analyst Ratings Changes
A number of research firms recently commented on GOLD. Stifel Canada raised Barrick Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. TD Securities cut their target price on Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets started coverage on Barrick Gold in a research report on Wednesday, April 16th. They set a "market perform" rating for the company. Royal Bank of Canada increased their price target on Barrick Gold from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Finally, Scotiabank boosted their price objective on Barrick Gold from $20.00 to $22.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Barrick Gold currently has a consensus rating of "Moderate Buy" and an average price target of $24.05.
Get Our Latest Analysis on GOLD
Barrick Gold Price Performance
The firm has a market cap of $32.37 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 0.44 and a beta of 0.25. 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 stock's 50-day moving average price is $19.07 and its 200 day moving average price is $17.85.
Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. The company had revenue of $3 billion during the quarter, compared to analysts' expectations of $3.15 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. Barrick Gold's quarterly revenue was up 13.9% compared to the same quarter last year. Equities research 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 will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. Barrick Gold's dividend payout ratio is presently 32.52%.
Barrick Gold declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the gold and copper producer to buy up to 3.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in GOLD. Capital International Investors lifted its stake in shares of Barrick Gold by 136.1% during the 4th quarter. Capital International Investors now owns 33,293,792 shares of the gold and copper producer's stock worth $516,055,000 after buying an additional 19,189,830 shares during the last quarter. Causeway Capital Management LLC acquired a new stake in Barrick Gold in the 4th quarter worth about $172,225,000. Wellington Management Group LLP boosted its holdings in Barrick Gold by 17.5% in the 4th quarter. Wellington Management Group LLP now owns 64,310,800 shares of the gold and copper producer's stock valued at $996,802,000 after purchasing an additional 9,598,292 shares during the period. FIL Ltd boosted its stake in shares of Barrick Gold by 236.7% in the fourth quarter. FIL Ltd now owns 6,815,946 shares of the gold and copper producer's stock valued at $105,692,000 after buying an additional 4,791,663 shares during the period. Finally, Capital International Inc. CA acquired a new stake in Barrick Gold during the fourth quarter worth approximately $57,991,000. Institutional investors and hedge funds own 62.85% of the company's stock.
Barrick Gold Company Profile
(
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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.
Further Reading
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