Brokerages Set Barrick Gold Corp (NYSE:GOLD) PT at $21.60

Barrick Gold Corp (NYSE:GOLDGet Free Report) (TSE:ABX) has earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $21.60.

A number of research firms have issued reports on GOLD. BMO Capital Markets decreased their price target on shares of Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. National Bank Financial restated a “sector perform overweight” rating on shares of Barrick Gold in a report on Monday, April 8th.

Get Our Latest Analysis on GOLD

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GOLD. Qube Research & Technologies Ltd acquired a new position in Barrick Gold in the third quarter worth about $6,892,000. Alpine Global Management LLC acquired a new position in Barrick Gold in the third quarter worth about $313,000. Schonfeld Strategic Advisors LLC acquired a new position in Barrick Gold in the third quarter worth about $1,542,000. Advisors Asset Management Inc. raised its position in Barrick Gold by 10.1% in the third quarter. Advisors Asset Management Inc. now owns 31,990 shares of the gold and copper producer’s stock worth $465,000 after purchasing an additional 2,927 shares in the last quarter. Finally, AXQ Capital LP acquired a new position in Barrick Gold in the third quarter worth about $371,000. 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 stock has a market capitalization of $30.62 billion, a PE ratio of 21.27, a P/E/G ratio of 0.49 and a beta of 0.51. Barrick Gold has a 1 year low of $13.76 and a 1 year high of $18.95. The firm has a fifty day moving average price of $16.89 and a 200 day moving average price of $16.45. The company has a current ratio of 3.32, a quick ratio of 2.49 and a debt-to-equity ratio of 0.15.

Barrick Gold (NYSE:GOLDGet Free Report) (TSE:ABX) last released its quarterly earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. Barrick Gold had a net margin of 12.58% and a return on equity of 4.88%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same period in the prior year, the company earned $0.14 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Analysts expect that Barrick Gold will post 1.08 EPS for the current fiscal year.

Barrick Gold Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were given a dividend of $0.10 per share. The ex-dividend date was Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a dividend 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 currently 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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