Barrick Gold (NYSE:GOLD - Free Report) TSE: ABX had its price target raised by UBS Group from $22.00 to $25.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the gold and copper producer's stock.
A number of other equities analysts have also recently issued reports on the company. Royal Bank of Canada increased their target price on Barrick Gold from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. National Bankshares reaffirmed an "outperform" rating on shares of Barrick Gold in a research report on Wednesday, April 2nd. Bank of America lowered Barrick Gold from a "buy" rating to a "neutral" rating and lowered their price target for the company from $21.00 to $18.00 in a research report on Monday, January 27th. TD Securities reduced their target price on shares of Barrick Gold from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Raymond James raised their price target on shares of Barrick Gold from $23.00 to $23.50 and gave the company an "outperform" rating in a research report on Monday, March 31st. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Barrick Gold currently has an average rating of "Moderate Buy" and an average target price of $24.21.
Check Out Our Latest Analysis on GOLD
Barrick Gold Trading Down 0.4 %
Shares of Barrick Gold stock traded down $0.09 on Friday, hitting $20.33. The stock had a trading volume of 20,236,705 shares, compared to its average volume of 24,239,406. The stock has a 50 day moving average of $18.55 and a 200 day moving average of $17.90. The firm has a market capitalization of $34.95 billion, a P/E ratio of 16.52, a PEG ratio of 0.44 and a beta of 0.55. Barrick Gold has a twelve month low of $15.11 and a twelve month high of $21.35. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.15 and a current ratio of 2.89.
Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last issued its quarterly earnings data on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.46. Barrick Gold had a return on equity of 6.76% and a net margin of 16.59%. Sell-side analysts expect that Barrick Gold will post 1.47 earnings per share for the current fiscal year.
Barrick Gold announced that its board has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the gold and copper producer to repurchase up to 3.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.
Barrick Gold Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.97%. The ex-dividend date was Friday, February 28th. Barrick Gold's dividend payout ratio (DPR) is presently 32.52%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in Barrick Gold by 28.9% in the first quarter. Fifth Third Bancorp now owns 5,644 shares of the gold and copper producer's stock valued at $110,000 after acquiring an additional 1,266 shares during the last quarter. Bard Financial Services Inc. lifted its position in Barrick Gold by 22.1% in the 1st quarter. Bard Financial Services Inc. now owns 63,625 shares of the gold and copper producer's stock worth $1,237,000 after buying an additional 11,500 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Barrick Gold by 21.8% in the first quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer's stock worth $62,000 after buying an additional 563 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Barrick Gold during the first quarter valued at approximately $257,000. Finally, UMB Bank n.a. bought a new position in shares of Barrick Gold during the 1st quarter valued at $210,000. Institutional investors own 62.85% of the company's stock.
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.
Read More
Before you consider Barrick Gold, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Barrick Gold wasn't on the list.
While Barrick Gold currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
