Barrick Gold Corp (NYSE:GOLD) Receives $21.60 Average Price Target from Brokerages

Shares of Barrick Gold Corp (NYSE:GOLDGet Free Report) (TSE:ABX) have received an average rating of “Moderate Buy” from the fourteen research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $21.60.

Several brokerages have commented on GOLD. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research report on Monday, April 8th. BMO Capital Markets lowered their price objective on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th.

Get Our Latest Report on Barrick Gold

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clean Yield Group acquired a new position in Barrick Gold in the 1st quarter valued at about $25,000. Principal Securities Inc. acquired a new position in Barrick Gold in the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its stake in Barrick Gold by 175.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after buying an additional 1,143 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in Barrick Gold in the 4th quarter valued at about $35,000. Finally, LRI Investments LLC acquired a new position in Barrick Gold in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Trading Up 0.3 %

Shares of NYSE:GOLD opened at $17.44 on Wednesday. The company’s 50-day moving average price is $16.89 and its two-hundred day moving average price is $16.45. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.32 and a quick ratio of 2.49. Barrick Gold has a one year low of $13.76 and a one year high of $18.95. The stock has a market capitalization of $30.62 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 0.49 and a beta of 0.51.

Barrick Gold (NYSE:GOLDGet Free Report) (TSE:ABX) last issued its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 EPS for the quarter, topping the consensus estimate of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the previous year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts forecast that Barrick Gold will post 1.08 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 2.29%. This is a positive change from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio is 48.78%.

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.

Further Reading

Analyst Recommendations for Barrick Gold (NYSE:GOLD)

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