Barrick Gold Corp (NYSE:GOLD) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Barrick Gold Corp (NYSE:GOLD - Get Free Report) TSE: ABX have been assigned an average recommendation of "Moderate Buy" from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $24.05.

GOLD has been the topic of several recent research reports. National Bankshares reaffirmed an "outperform" rating on shares of Barrick Gold in a research note on Wednesday, April 2nd. BMO Capital Markets initiated coverage on shares of Barrick Gold in a research note on Wednesday, April 16th. They issued a "market perform" rating on the stock. Royal Bank of Canada raised their target price on shares of Barrick Gold from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. Citigroup reduced their price objective 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. Finally, TD Securities reduced their price objective on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th.

Institutional Investors Weigh In On Barrick Gold

Several hedge funds have recently bought and sold shares of GOLD. Crowley Wealth Management Inc. acquired a new stake in Barrick Gold during the fourth quarter worth approximately $26,000. Vega Investment Solutions acquired a new stake in shares of Barrick Gold in the fourth quarter valued at approximately $31,000. Nexus Investment Management ULC acquired a new stake in shares of Barrick Gold in the first quarter valued at approximately $32,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Barrick Gold in the fourth quarter valued at approximately $37,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Barrick Gold in the fourth quarter valued at approximately $39,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Barrick Gold Trading Up 1.3 %

GOLD opened at $19.30 on Tuesday. The company has a current ratio of 2.89, a quick ratio of 2.15 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $33.19 billion, a PE ratio of 15.69, a PEG ratio of 0.44 and a beta of 0.55. Barrick Gold has a 1-year low of $15.11 and a 1-year high of $21.35. The firm has a 50-day moving average price of $18.96 and a two-hundred day moving average price of $17.90.

Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Barrick Gold had a net margin of 16.59% and a return on equity of 6.76%. As a group, equities analysts anticipate that Barrick Gold will post 1.47 earnings per share for the current fiscal year.

Barrick Gold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 annualized dividend and a yield of 2.07%. Barrick Gold's dividend payout ratio (DPR) is currently 32.52%.

Barrick Gold announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the gold and copper producer to purchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

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.

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