Shares of Barrick Gold Corp (NYSE:GOLD – Get Free Report) (TSE:ABX) hit a new 52-week high during trading on Wednesday . The company traded as high as $19.45 and last traded at $19.26, with a volume of 1327515 shares trading hands. The stock had previously closed at $19.25.
Analyst Upgrades and Downgrades
GOLD has been the topic of a number of recent research reports. National Bank Financial reissued a “sector perform overweight” rating on shares of Barrick Gold in a research note on Monday, April 8th. BMO Capital Markets lowered their price objective on Barrick Gold from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. CIBC raised their price objective on Barrick Gold from $23.00 to $27.00 and gave the stock an “outperformer” rating in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group raised their price objective on Barrick Gold from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.20.
View Our Latest Stock Analysis on Barrick Gold
Barrick Gold Stock Performance
The firm has a market capitalization of $32.50 billion, a P/E ratio of 22.61, a P/E/G ratio of 0.53 and a beta of 0.51. The stock has a fifty day simple moving average of $17.14 and a two-hundred day simple moving average of $16.48. 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 (NYSE:GOLD – Get Free Report) (TSE:ABX) last issued its earnings results on Wednesday, May 1st. The gold and copper producer reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.74 billion. Barrick Gold had a return on equity of 4.88% and a net margin of 12.58%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. On average, research analysts predict that Barrick Gold Corp will post 1.11 EPS for the current year.
Barrick Gold Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, May 31st. This is a boost from Barrick Gold’s previous quarterly dividend of $0.07. Barrick Gold’s dividend payout ratio (DPR) is 48.78%.
Institutional Investors Weigh In On Barrick Gold
Hedge funds have recently added to or reduced their stakes in the company. Addenda Capital Inc. grew its stake in Barrick Gold by 88.1% in the fourth quarter. Addenda Capital Inc. now owns 3,105,335 shares of the gold and copper producer’s stock valued at $56,176,000 after acquiring an additional 1,454,220 shares during the period. 1832 Asset Management L.P. grew its stake in Barrick Gold by 19.2% in the fourth quarter. 1832 Asset Management L.P. now owns 1,051,755 shares of the gold and copper producer’s stock valued at $19,026,000 after acquiring an additional 169,350 shares during the period. Klein Pavlis & Peasley Financial Inc. acquired a new stake in Barrick Gold in the fourth quarter valued at approximately $1,331,000. Corient Private Wealth LLC grew its stake in Barrick Gold by 0.9% in the fourth quarter. Corient Private Wealth LLC now owns 123,651 shares of the gold and copper producer’s stock valued at $2,237,000 after acquiring an additional 1,066 shares during the period. Finally, DAVENPORT & Co LLC grew its stake in Barrick Gold by 17.9% in the fourth quarter. DAVENPORT & Co LLC now owns 73,627 shares of the gold and copper producer’s stock valued at $1,332,000 after acquiring an additional 11,166 shares during the period. Institutional investors and hedge funds own 62.85% of the company’s stock.
About Barrick Gold
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.
See Also
Receive News & Ratings for Barrick Gold Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Barrick Gold and related companies with MarketBeat.com’s FREE daily email newsletter.