Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX has earned a consensus recommendation of "Moderate Buy" from the fifteen research firms that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $23.79.
A number of equities research analysts have recently weighed in on GOLD shares. National Bank Financial upgraded Barrick Gold to a "hold" rating in a research note on Friday, March 21st. Citigroup cut their price target on shares of Barrick Gold from $21.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, March 31st. National Bankshares reiterated an "outperform" rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. UBS Group raised Barrick Gold from a "neutral" rating to a "buy" rating and set a $22.00 target price on the stock in a research report on Wednesday, March 5th. Finally, Bank of America cut Barrick Gold from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $21.00 to $18.00 in a research report on Monday, January 27th.
Read Our Latest Research Report on Barrick Gold
Barrick Gold Trading Up 7.3 %
Shares of NYSE:GOLD traded up $1.28 during trading on Friday, reaching $18.80. 41,232,115 shares of the company were exchanged, compared to its average volume of 21,865,230. 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 firm has a market capitalization of $32.44 billion, a PE ratio of 15.28, a P/E/G ratio of 0.44 and a beta of 0.55. The business's fifty day simple moving average is $18.36 and its 200-day simple moving average is $17.93. Barrick Gold has a 12-month low of $15.11 and a 12-month high of $21.35.
Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. On average, research analysts anticipate that Barrick Gold will post 1.47 EPS for the current year.
Barrick Gold announced that its board has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.
Barrick Gold Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $0.10 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.13%. Barrick Gold's dividend payout ratio (DPR) is currently 32.52%.
Hedge Funds Weigh In On Barrick Gold
A number of large investors have recently bought and sold shares of GOLD. Crowley Wealth Management Inc. purchased a new stake in shares of Barrick Gold in the fourth quarter valued at approximately $26,000. Vega Investment Solutions purchased a new stake in Barrick Gold in the 4th quarter worth $31,000. Nexus Investment Management ULC acquired a new position in Barrick Gold during the first quarter worth $32,000. Strategic Investment Solutions Inc. IL acquired a new position in Barrick Gold during the fourth quarter worth $37,000. Finally, Ameriflex Group Inc. purchased a new position in Barrick Gold in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 62.85% of the company's stock.
About Barrick Gold
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Get Free ReportBarrick 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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