BMO Capital Markets Lowers Barrick Gold (NYSE:GOLD) Price Target to $26.00

Barrick Gold (NYSE:GOLD) (TSE:ABX) had its target price trimmed by BMO Capital Markets from $27.00 to $26.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the gold and copper producer’s stock.

A number of other equities analysts have also recently weighed in on the stock. CIBC decreased their price objective on shares of Barrick Gold from $27.00 to $23.00 and set an outperform rating for the company in a research report on Wednesday, February 7th. National Bank Financial reissued a sector perform overweight rating on shares of Barrick Gold in a research report on Monday, April 8th. Scotiabank reduced their price target on shares of Barrick Gold from $24.00 to $23.00 and set a sector outperform rating on the stock in a research report on Tuesday, February 20th. Jefferies Financial Group began coverage on shares of Barrick Gold in a research report on Thursday, February 29th. They set a buy rating and a $21.00 price target on the stock. Finally, StockNews.com raised shares of Barrick Gold from a hold rating to a buy rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Barrick Gold presently has a consensus rating of Moderate Buy and an average target price of $22.18.

Barrick Gold Stock Up 1.3 %

Shares of Barrick Gold stock opened at $16.70 on Wednesday. The company has a fifty day moving average price of $15.82 and a 200 day moving average price of $16.20. The company has a current ratio of 3.16, a quick ratio of 2.40 and a debt-to-equity ratio of 0.15. Barrick Gold has a twelve month low of $13.76 and a twelve month high of $20.75. The stock has a market cap of $29.32 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58.

Barrick Gold (NYSE:GOLD) (TSE:ABX) last posted its quarterly earnings data on Wednesday, February 14th. The gold and copper producer reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.06. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Barrick Gold had a net margin of 11.16% and a return on equity of 4.64%. During the same period in the prior year, the company posted $0.13 EPS. Equities research analysts forecast that Barrick Gold will post 0.91 earnings per share for the current fiscal year.

Barrick Gold Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.074 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.77%. Barrick Gold’s dividend payout ratio is presently 55.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GOLD. Principal Securities Inc. acquired a new position in shares of Barrick Gold during the fourth quarter valued at approximately $26,000. Fairfield Bush & CO. acquired a new position in shares of Barrick Gold during the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC increased its stake in shares of Barrick Gold by 175.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the gold and copper producer’s stock valued at $32,000 after acquiring an additional 1,143 shares during the period. Bruce G. Allen Investments LLC acquired a new position in shares of Barrick Gold during the fourth quarter valued at approximately $35,000. Finally, Resurgent Financial Advisors LLC acquired a new position in shares of Barrick Gold during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 62.85% of the company’s stock.

Barrick Gold Company Profile

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.