Barrick Gold Corp (NYSE:B - Get Free Report) TSE: ABX was the target of some unusual options trading on Monday. Investors bought 93,019 call options on the stock. This is an increase of approximately 183% compared to the typical volume of 32,900 call options.
Wall Street Analyst Weigh In
Several research firms recently weighed in on B. Raymond James boosted their target price on Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a report on Monday, March 31st. National Bank Financial upgraded Barrick Gold to a "hold" rating in a report on Friday, March 21st. Stifel Canada upgraded Barrick Gold to a "strong-buy" rating in a report on Wednesday, March 19th. Wall Street Zen began coverage on Barrick Gold in a report on Monday, May 12th. They issued a "sell" rating for the company. Finally, BMO Capital Markets began coverage on Barrick Gold in a report on Wednesday, April 16th. They issued a "market perform" rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Barrick Gold currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.32.
Get Our Latest Analysis on B
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of B. Crowley Wealth Management Inc. bought a new stake in Barrick Gold in the fourth quarter valued at $26,000. Vega Investment Solutions bought a new stake in Barrick Gold in the fourth quarter valued at $31,000. Nexus Investment Management ULC bought a new stake in Barrick Gold in the first quarter valued at $32,000. Cary Street Partners Investment Advisory LLC bought a new stake in Barrick Gold in the first quarter valued at $32,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Barrick Gold in the fourth quarter valued at $37,000. 90.82% of the stock is currently owned by institutional investors and hedge funds.
Barrick Gold Stock Performance
Shares of NYSE B traded up $0.14 during trading hours on Thursday, reaching $20.28. The stock had a trading volume of 1,988,558 shares, compared to its average volume of 2,122,881. The business's fifty day moving average is $19.06 and its two-hundred day moving average is $17.84. 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 market cap of $34.88 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 0.44 and a beta of 0.25. Barrick Gold has a twelve month low of $17.41 and a twelve month high of $47.50.
Barrick Gold (NYSE:B - Get Free Report) TSE: ABX last issued its earnings results on Wednesday, May 7th. The gold and copper producer reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.15 billion. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Barrick Gold's revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 earnings per share. As a group, research analysts expect that Barrick Gold will post 1.47 EPS for the current year.
Barrick Gold Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid 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 dividend yield of 1.97%. Barrick Gold's payout ratio is 30.08%.
Barrick Gold declared that its Board of Directors has approved a share repurchase 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 purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.
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.
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