Barrick Gold (NYSE:GOLD - Free Report) TSE: ABX had its price objective raised by Royal Bank of Canada from $22.00 to $23.00 in a report issued on Friday morning, MarketBeat Ratings reports. They currently have an outperform rating on the gold and copper producer's stock.
A number of other brokerages have also issued reports on GOLD. 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. Bank of America cut shares of Barrick Gold from a "buy" rating to a "neutral" rating and cut their target price for the company from $21.00 to $18.00 in a research note on Monday, January 27th. Scotiabank lifted their price objective on Barrick Gold from $19.00 to $20.00 and gave the company a "sector perform" rating in a report on Tuesday, February 18th. Raymond James boosted their price objective on Barrick Gold from $23.00 to $23.50 and gave the stock an "outperform" rating in a research note on Monday, March 31st. Finally, Stifel Canada upgraded Barrick Gold to a "strong-buy" rating in a research note on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Barrick Gold currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.79.
Read Our Latest Stock Analysis on Barrick Gold
Barrick Gold Stock Performance
Shares of NYSE:GOLD traded up $1.22 during trading on Friday, hitting $18.74. 21,615,245 shares of the company traded hands, compared to its average volume of 21,828,949. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.14. The business's fifty day moving average is $18.26 and its 200-day moving average is $17.94. The stock has a market capitalization of $32.34 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 0.44 and a beta of 0.55. Barrick Gold has a one year low of $15.11 and a one year high of $21.35.
Barrick Gold (NYSE:GOLD - Get Free Report) TSE: ABX last posted its earnings results on Wednesday, February 12th. The gold and copper producer reported $0.46 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 predict that Barrick Gold will post 1.47 earnings per share for the current fiscal year.
Barrick Gold Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.13%. Barrick Gold's payout ratio is 32.52%.
Barrick Gold announced that its Board of Directors has approved a share repurchase program 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 purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of Barrick Gold by 19.9% in the third quarter. Principal Financial Group Inc. now owns 483,613 shares of the gold and copper producer's stock valued at $9,630,000 after purchasing an additional 80,366 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Barrick Gold by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,073,717 shares of the gold and copper producer's stock valued at $78,637,000 after buying an additional 128,203 shares during the last quarter. Crocodile Capital Partners GmbH grew its stake in shares of Barrick Gold by 97.3% in the fourth quarter. Crocodile Capital Partners GmbH now owns 1,460,000 shares of the gold and copper producer's stock valued at $22,630,000 after buying an additional 720,000 shares in the last quarter. Chiron Investment Management LLC increased its holdings in Barrick Gold by 36.5% during the third quarter. Chiron Investment Management LLC now owns 604,199 shares of the gold and copper producer's stock worth $12,018,000 after buying an additional 161,688 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new stake in Barrick Gold during the fourth quarter worth $700,000. 62.85% of the stock is owned by institutional investors and hedge funds.
Barrick Gold Company Profile
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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.
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